Alibaba’s cloud business revenue soars 34% driven by AI boom
HONG KONG โ Chinaโs Alibaba Group posted a 34% jump in revenue from its cloud business in its most recent quarter, buoyed by the boom in artificial intelligence. But overall revenue at the Chinese tech group for the July-September quarter increased by just 5% year-on-year to 247.8 billion yuan ($35 billion), and profit fell 52%…