The Financial Times stated that despite U.S. regulations restricting access to chips and processors, major Chinese technology companies Alibaba, Baidu, and Tencent had more than doubled their spending on artificial intelligence from the previous year. With the primary focus on infrastructure linked to training huge language models for AI, the three businesses spent RMB 50 billion ($7.02 billion) in capital expenditures in the first half of the year, up from RMB 23 billion the previous year.
The Financial Times stated that despite U.S. regulations restricting access to chips and processors, major Chinese technology companies Alibaba, Baidu, and Tencent had more than doubled their spending on artificial intelligence from the previous year. With the primary focus on infrastructure linked to training huge language models for AI, the three businesses spent RMB 50 billion ($7.02 billion) in capital expenditures in the first half of the year, up from RMB 23 billion the previous year.