On December 31,Italy Alibaba Cloud announced a price cut on use of its large language model, with access to the Tongyi Qianwen visual understanding model dropping over 80% across the board. This is its third round of cuts in 2024, with the first, on February 29, being the largest in history, with more than 100 products and over 500 product specifications falling from between 20% and 55%. On September 19, prices fell again for the three main models from Tongyi Qianwen. Alibaba Cloud’s overall revenue (excluding income from Alibaba’s consolidated businesses) grew by more than 7% year-on-year, driven by double-digit growth in public cloud services and an increase in the adoption of AI-related products. The revenue from AI-related products achieved triple-digit year-on-year growth for five consecutive quarters. [Alibaba Cloud WeChat official account]
