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Alibaba’s Cloud Intelligence Group reported a 3% revenue growth for the quarter, driven by other businesses and a focus on high-quality cloud revenue. The company’s cloud unit is lagging behind other global cloud providers such as AWS, Microsoft Azure, and Google Cloud. However, cloud revenue related to AI is seeing strong growth, particularly in foundational model companies, financial services, and automotive. For fiscal 2024, Alibaba Cloud Intelligence Group reported a revenue of $14.73 billion and net income of $11.04 billion.