Xiaomi ‘in no rush’ to turn vast AI spending into profits despite earnings slump

SCMP TechAugust 18, 2026en

Chinese technology giant Xiaomi has said it is “in no rush” to convert its large investments in artificial intelligence into profit, after recording another decline in net profits in the second quarter amid intense competition and cost inflation. “Our investment in AI is currently still in a phase of large-scale input. However, as a large corporation, Xiaomi is in no rush to pursue immediate monetisation,” said Alain Lam, the firm’s vice-president and chief financial officer, during an earnings...

This is a short summary published by AI Global Wire. The full article is owned and hosted by SCMP Tech — open it there to read it in full.