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ByteDance cuts AI costs by 85% in China’s tech race
TikTok’s parent company ByteDance has cut the cost of its genAI model by 85%, setting the price at 0.003 yuan (US$0.00041) per thousand token uses, much lower than the industry average.
This move is part of a price war among Chinese tech giants like Alibaba, Baidu, Tencent, and Zhipu AI, all lowering costs to attract users.
Some firms have started offering basic AI services for free.
Recent ByteDance developments
| Timeline |
|---|
15-Dec-2024 📹 ByteDance shifts focus to AI video generators, not chatbots
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10-Dec-2024 📅 ByteDance seeks to block US sell-off order
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04-Dec-2024 🖼️ ByteDance expands AI Doubao with image recognition feature
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28-Nov-2024 ⚖️ ByteDance sues intern over AI sabotage claims
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20-Nov-2024 📈 ByteDance boosts stock options for top workers
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| 17-Nov-2024 💼 ByteDance claims $300b valuation amid U.S. scrutiny |
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