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Investors have grown wary of sky-high AI research and development costs and slowing consumer spending in China.
Alibaba launched Qwen 3.6-Plus, an agentic AI model capable of autonomous multistep tasks.
KEY POINTS
- Alibaba integrated AI into core products, including rebranding Ele.me as Taobao Instant Commerce within the Qwen app.
- Alibaba's net income fell 66% year-over-year due to heavy investment in AI, promotions, and technology.
- Qwen app surpassed 300 million monthly users, highlighting rapid adoption of Alibaba's AI-powered services.
- Analysts expect Alibaba's reinvestment phase to last through fiscal 2026, delaying profit recovery until 2027.
COMPANIES
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