Chinese AI stocks Alibaba, Baidu, and JD.Com are down due to competition and price cuts

From Quantisnow: 2024-07-05 08:04:13

Chinese tech stocks such as Alibaba, Baidu, and JD.Com are down as Baidu launches Ernie 4.0 Turbo, cutting prices to compete in AI. Prices for the model start at 30 yuan per 1 million input tokens. Use of Ernie models increased by 150% in Q2. Alibaba is also cutting AI service prices. BABA down 0.62%, BIDU down 1.23%, JD down 1.60%.



Read more at Quantisnow: What’s Going On With Chinese AI Stocks Alibaba, Baidu, JD On Friday?