China’s leading internet company Tencent (OTC:TCEHY) and AI firm iFlytek have significantly reduced the prices of their large-language models (LLMs).
What Happened: Tencent’s cloud unit announced that the “lite” version of its LLM, “Hunyuan,” is now free, with prices for more advanced versions slashed by 50% to 88%. Hours earlier, iFlytek revealed that its “Spark” LLM is either free or up to five times cheaper than similar products from competitors, Reuters reported on Wednesday.
On Tuesday, the cloud units of Chinese tech giants Alibaba and Baidu also reduced prices of their LLMs. Last week, Bytedance made a similar move, intensifying the competition.
Tencent and iFlytek launched ChatGPT-like products in ...