China Revvs Up LLM Game As Tencent, iFlytek Slash ChatGPT-Like AI Model Prices
Portfolio Pulse from Benzinga Neuro
Tencent and iFlytek have significantly reduced the prices of their large-language models (LLMs) to intensify competition in China's generative AI market. Tencent's 'Hunyuan' and iFlytek's 'Spark' are now much cheaper, with some versions being free. This move aligns with China's push to develop its own AI technologies and reduce reliance on foreign suppliers.
May 22, 2024 | 2:41 pm
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Tencent's cloud unit has made the 'lite' version of its LLM 'Hunyuan' free and significantly reduced prices for more advanced versions. This move is part of a broader strategy to dominate China's generative AI market.
The significant price reduction of Tencent's LLMs is likely to attract more users and increase market share, positively impacting the company's stock price in the short term.
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