According to Western media, the move highlights the “intensifying competition” among Chinese tech giants such as Tencent, Baidu and ByteDance to dominate the artificial intelligence market. Over the past 18 months, these companies have launched their own large language models (LLMs).
Earlier this year, Alibaba was already slashing prices of other AI and cloud computing products by 97%. More than 90,000 businesses currently use Qwen models, according to the company.
Despite the announcement, Alibaba shares rose just 0.5% on the Hong Kong stock exchange.
Source: Ferra
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