Alibaba's AI build-out lifts capital spending 75% as quarterly profit falls 76%

For the quarter ended 30 June 2026 Alibaba reported revenue of 268.95 billion yuan, up 9 per cent year on year, while net income attributable to ordinary shareholders fell 76 per cent to 10.54 billion yuan. Capital expenditure rose 75 per cent to 67.68 billion yuan, driven mainly by AI infrastructure.

What it means One of the clearest public readings yet of what the AI build-out costs a profitable incumbent in the quarter it is spending.