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19.03.26 - 20:18
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Some AI Firms a Little ′Overvalued,′ Khosla′s Choi Says (Bloomberg)
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Ethan Choi, partner at Khosla Ventures, says the world has only scratched the surface of AI possibilities. He says some AI model startups may be overvalued but those figures are justified because of the cost of buildout and possible upside. Choi joins Caroline Hyde on “Bloomberg Tech.” (Source: Bloomberg)...
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19.03.26 - 19:42
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Chinese Firms Benefit From Consumer AI Uptake (Bloomberg)
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Alibaba says it's aiming to generate $100 billion in cloud and AI revenue within the next five years. It comes as China's embrace of OpenClaw-style agentic AI has handed rival Tencent an initial advantage. Jacob Cooke, CEO of WPIC Marketing + Technologies, discusses the AI landscape in China with Caroline Hyde on “Bloomberg Tech.” (Source: Bloomberg)...
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19.03.26 - 17:18
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BABA Shares Crash Most In Six Months As Net Income Plunge Overshadows AI Progress (ZeroHedge)
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BABA Shares Crash Most In Six Months As Net Income Plunge Overshadows AI Progress
Alibaba ADRs suffered their sharpest drop in six months during the US cash session after quarterly results revealed a massive tumble in net income and sluggish top-line growth, overshadowing yet another quarter of triple-digit expansion across its cloud and AI businesses.
Third-quarter results showed that Alibaba's core retail business remained sluggish, while its Cloud Intelligence Group posted 36% growth compared with the same period one year ago.
Revenue for the quarter rose by only 1.7% year-over-year to RMB 284.84 billion, missing the Bloomberg Consensus estimate of RMB 289.79 billion. Adjusted EPS, EBITDA, and net income all fell below analyst expectations, with adjusted net income plunging 67% year-over-year.
Here's a snapshot of the earnings:
Revenue 284.84 billion yuan, +1.7% y/y, estimate 289.79 billion yuan (Bloomberg Consensus)
Alibaba International Digital Commerce Group revenue 39.20 billion yuan...
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