Asia Centric: China’s AI Firms Locked in Race to the Bottom
While US tech giants such as Anthropic and OpenAI are monetizing at an unprecedented scale, Chinese developers are struggling to turn their technical progress into revenue growth. Despite narrowing the...
By Clara Chen · Bloomberg
While US tech giants such as Anthropic and OpenAI are monetizing at an unprecedented scale, Chinese developers are struggling to turn their technical progress into revenue growth. Despite narrowing the performance gap with US frontier models to just 5%, they face a domestic market flooded with nearly 1,000 competing large language models. This massive oversupply has triggered a brutal price war, with API tokens trading at roughly an 80% discount compared with US rates.