阿里左手外卖、右手AI，400亿补贴难挡第二春？

一视财经01-03

撰文丨一视财经东阳编辑 | 高山近期，万众瞩目之下，阿里巴巴公布了2026财年二季度（2025年7月-9月）的财报。除开阿里作为大公司自带的流量之外，市场还期待从这份财报中看到，外卖大战的投入将如何反映在阿里的财报中，多次高调宣布调高资本支出后，阿里云又能否接住市场对阿里AI的高预期。从结果上来看，虽然外卖补贴带来营销支出大增，导致阿里经营利润同比下滑85%至 53.65亿元，但云业务不负众望...

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