Forget the food delivery war — Alibaba makes clear the real play in China is AI
1. Alibaba stock surged 12.9% on strong AI-related revenue growth. 2. Company reported a revenue miss but showed 26% growth in cloud services. 3. Heavy losses from food delivery impact overall profitability. 4. Analysts believe Alibaba's cloud growth offsets food delivery challenges. 5. Stock is up 59% year-to-date amidst bullish investor sentiment.