State-run China Telecom Looks To Dole Out Discounts For ChatGPT-Like Service Following Alibaba's Recent Plans - Alibaba Gr Holding (NYSE:BABA)

China Telecom, the state-owned telecoms network operator and a key cloud service provider, proposes to launch its natural language training model to challenge the likes of Alibaba Group Holding Limited BABA and many others chasing the ChatGPT frenzy.
China Telecom's cloud unit CTYun is testing self-developed pre-trained large language models that underpin generative AI technology like ChatGPT, which US-based start-up OpenAI launched last November, SCMP reports.
CTYun looks to launch its product shortly when appropriate, said company general manager Hu Zhiqiang at an event on Wednesday.
CTYun proposes to slash the cost of its cloud computing service, Hu added. The price cut plans coincided with Alibaba Cloud's, which looks to cut the prices of its core products and services in the country by up to 50% starting from May 7.
China Telecom has proved itself as a growing rival in China's Alibaba-led cloud services industry.
The telecoms firm rose to become the third-largest player in the market in the second half of 2022, with a 10.3% market share, behind Alibaba at 31.9% and Huawei Technologies at 12.1%, according to IDC. Tencent Holding Ltd TCEHY fell fourth with 9.9% of the market.
In April, Alibaba launched its ChatGPT-like service called Tongyi Qianwen for corporate clients. It has already embedded the technology into the enterprise collaboration platform DingTalk and plans to integrate it into Tmall Genie, the company's smart speaker.
Price Action: BABA shares traded lower by 0.90% at $83.71 premarket on the last check Friday.
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