- Alibaba Cloud announced a price cut on its large language model, Tongyi Qianwen, by over 80%.
- This is the third round of cuts in 2024, with previous cuts on February 29 and September 19.
- Alibaba Cloud’s revenue grew by over 7% year-on-year, driven by public cloud services and AI-related products.
- Revenue from AI-related products saw triple-digit growth for five consecutive quarters.
Alibaba Cloud has been actively reducing prices for its AI models, showing a commitment to making these technologies more accessible. The significant revenue growth from AI-related products indicates a strong market demand and adoption in China. It will be interesting to see how these price reductions and revenue growth will impact the overall AI landscape in the country.