AI boom fails to propel China's cloud market growth
Publishing timestamp: 2023-12-26 23:56:24
Summary
The Chinese cloud services market has slowed down in growth over the past two years, despite the potential for growth through training AI models on the cloud. Alibaba's cloud business reported minimal revenue growth, and other major players in the Chinese cloud market also experienced slower growth. The domestic spending on cloud services in China grew by 18% in the third quarter, but the overall growth rate for the cloud segment is expected to be lower in the coming years. The industry has been investing heavily in AI, but the complexity of AI technology presents challenges for adoption and deployment.
Sentiment: NEUTRAL
Keywords: tencent holdings ltd, market insider, alibaba group holding ltd, technology, breaking news: technology, stock markets, markets, baidu inc, business news,
Source: https://www.cnbc.com/2023/12/27/ai-boom-fails-to-propel-chinas-cloud-market-growth-.html