Alibaba HK shares slide as dismal Q3 earnings overshadow AI, cloud growth

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Gold slides on bets for higher interest rates for longer amid raging Iran war Stocks end lower in choppy session after Netanyahu says Iran can’t enrich uranium Oil reverses course, but Brent still hovering near highest level since July 2022 Ed Yardeni sees risk to his bullish gold target as prices lag expectations (South Africa Philippines Nigeria) Alibaba HK shares slide as dismal Q3 earnings overshadow AI, cloud growth By Author Ambar Warrick Stock Markets Published 03/19/2026, 11:20 PM Alibaba HK shares slide as dismal Q3 earnings overshadow AI, cloud growth 0 HK50 -0.45% 0700 0.19% BABA -7.09% 9988 -4.85% 9888 -0.85% Investing.com-- Alibaba shares fell sharply in Hong Kong trade on Friday after the Chinese e-commerce giant clocked weaker-than-expected December quarter earnings. Weak bottom and top-line prints largely overshadowed growth in Alibaba’s artificial intelligence endeavors, with the company vowing to further increase investment in the fast-growing technology. Alibaba (HK: 9988 ) shares fell over 5% to an intraday low of HK$124.30– their weakest level since August 2025. But shares trimmed their losses to trade at HK$126.30 by 22:54 ET (02:54 GMT). Get more breaking news on Asia’s biggest AI firms by subscribing to InvestingPro The stock was the biggest weight on the Hang Seng index, which shed 0.6%. Alibaba’s revenue and net income both missed expectations, with net income sliding 66.3% in the December quarter amid pressure from increased spending on e-commerce promotions and AI. Cloud revenue– which is tied to the company’s AI endeavors, rose a bigger-than-expected 36% on increased demand for computing power, and as Alibaba integrated its AI models into several of its consumer offerings. Earlier this week, Alibaba said it will separate its AI business from its cloud computing unit, with the new AI division to be led by CEO Eddie Wu. The company has spent tens of billions of dollars on its AI pla...