Jack Ma-Backed Ant’s Profit Grew 10% After AI, Global Expansion

Ant Group Co.’s quarterly profit grew 10% after the Chinese digital payments giant bolstered its artificial intelligence capacity via AI models, humanoid robots and health care.

The Hangzhou-based company contributed 2.7 billion yuan ($381 million) of profit to Alibaba Group Holding Ltd., which owns a third of Ant. That translates to an estimated 8.3 billion yuan in profit for the three months ended June 30, according to Bloomberg calculations based on Alibaba’s earnings report.

The company’s reported earnings lag behind Alibaba’s by a quarter. Ant declined to comment.

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