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DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
China's cloud service providers, including Alibaba and Tencent, are not experiencing increased earnings despite the AI model hype. Alibaba's share in China's public cloud market is declining, raising questions about its ability to convert generative AI excitement into actual revenue. The recent quarterly earnings of these providers did not meet expectations, despite the anticipated spike in demand for AI computing, big data, storage, and databases. Alibaba Cloud has significantly reduced prices for its Tongyi Qianwen AI model, prompting a price war in China's AI market as Baidu responds by offering its ENIRE models for free.
PRICE WAR IN CHINA'S AI MARKET $BABA Alibaba Cloud slashes prices for its latest LLM model, Tongyi Qianwen, by up to 97%, effective May 21. In response, Baidu $BIDU made its ENIRE Speed and ENIRE Lite models "FREE" to use.
Alibaba Group slashes prices for a clutch of AI services by as much as 97%, spurring an immediate response from Baidu in potentially the start of a price war in China’s nascent AI market https://t.co/BQTo18sUC3
⚡In response to price cuts in Alibaba Cloud's large language models, Baidu has made its ENIRE Speed and ENIRE Lite models free to use. #China #AI $BIDU $BABA The price war for Chinese AI models has begun. https://t.co/7vszaCm9XX https://t.co/wIb544RGma
