Alibaba Cloud deepens the competition in China's AI landscape by significantly reducing the price of its visual language model, Qwen-VL. This move aims to attract more businesses to adopt their AI solutions.
Alibaba Cloud , the cloud computing division of Chinese e-commerce giant Alibaba, announced on Tuesday a price reduction of up to 85% on its visual language model, Qwen-VL. This move highlights the intensifying competition among Chinese tech companies to secure market share for their emerging artificial intelligence (AI) offerings. Qwen-VL is designed to process and comprehend both text and images.
While Alibaba's stock remained relatively stable following the announcement, the price cuts underscore the aggressive pursuit of AI dominance by Chinese tech giants. Companies like Huawei and Bytedance (parent company of TikTok) have also introduced their own large language models (LLMs) within the past 18 months, capitalizing on the growing excitement surrounding AI. Alibaba has a history of leveraging price reductions to encourage businesses to adopt its AI products. Earlier this year, they implemented price cuts across a variety of core cloud products and, in May, they reduced the cost of their Qwen AI model. Alibaba's strategic focus lies in deploying LLMs within the enterprise sector rather than developing a consumer-facing AI chatbot like OpenAI's ChatGPT. They have stated that their Qwen models are currently utilized by over 90,000 enterprise users
Alibaba Cloud Qwen-VL Artificial Intelligence Large Language Models Competition
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Amazon Slashs Price of Galaxy Watch 6 Classic by 44%!Amazon is offering a massive discount of $190 on the 47mm Galaxy Watch 6 Classic Bluetooth version, bringing the price down to just under $240. This is the lowest price we've seen for this model.
Read more »
Microsoft faces £1 billion lawsuit in UK for allegedly overcharging rival cloud firms' customersMicrosoft was accused of unfairly overcharging customers of rival cloud companies including Amazon, Google and Alibaba Cloud in a U.K. lawsuit filed Tuesday.
Read more »
Alibaba-backed Xreal launches augmented reality glasses with new chip as Meta rivalry heats upXreal is betting on glasses, rather than headsets like Apple’s Vision Pro or the Meta Quest, to be the mass-market winners in augmented reality.
Read more »
Stocks making the biggest moves midday: Hershey, Nvidia, Alibaba, Omnicom and moreThese are the stocks posting the largest moves in midday trading.
Read more »
Shinsegae to Form Joint Venture with Alibaba InternationalSouth Korean retailer Shinsegae is partnering with Alibaba International to create a joint venture, leveraging its e-commerce platform Gmarket and incorporating AliExpress Korea.
Read more »
Alibaba: A Contrarian Investment Opportunity in China's MarketInvestors are looking ahead to 2025, and Barron's top stocks list for the year includes Alibaba, a company that has faced recent controversy. Despite investor apprehension about China's market, analysts and institutional investors are increasingly bullish on Alibaba's prospects. The article highlights a potential buying opportunity in China's stock market, citing factors such as falling bond yields and a significant divergence between stock and bond yields.
Read more »