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Benzinga
Benzinga
Business
Anusuya Lahiri

Alibaba's AI Momentum Builds As Qwen Coder Gains Market Share

Alibaba BABA Baidu BIDU IDC Alibaba Group Artificial Intelligence China SCMP Tencent
Alibaba Group Holding Limited

Baidu (NASDAQ:BIDU) and Alibaba Group (NYSE:BABA) led China’s public cloud services for artificial intelligence in 2024, each capturing roughly 25% of a market that expanded 55% to 19.6 billion yuan ($2.7 billion), IDC reported Monday.

Tencent Holdings (OTC:TCEHY) and Huawei Technologies were the next largest providers.

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