Alibaba Exceeds Expectations with AI, E-commerce Growth

Alibaba Group reported a significant increase in its revenue and profit for the third quarter, driven by strong performance in AI and e-commerce. The company's revenue grew by 8% year-over-year to 280.1 billion yuan ($38.4 billion), surpassing analyst expectations. Net income soared by 239% to 48.9 billion yuan ($6.7 billion), fueled by Alibaba's AI-driven strategy and robust growth in its cloud computing segment, which saw a 13% increase. The company's core e-commerce businesses, Taobao and Tmall, also reported a 9% rise in customer management revenue. Alibaba's stock has been on an upward trajectory, benefiting from investor optimism and strategic partnerships with firms like Apple for AI integration. CEO Eddie Wu emphasized the company's commitment to investing in AI and cloud infrastructure to drive long-term growth.