People commute past Chinese e-commerce giant Alibaba’s headquarters in Hangzhou in China’s eastern Zhejiang province on May 26, 2022. STR/AFP via Getty ImagesAlibaba Group has reported its first operating loss since 2021 after ramping up investment in artificial intelligence.The Chinese e-commerce and technology company posted an operating loss of 848 million yuan ($123 million) for the quarter ending March 31, according to its official earnings statement on May 13.
Alibabas AI Investments Trigger First Operating Loss Since 2021
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