11:50 AM EDT, 05/21/2024 (MT Newswires) -- Alibaba Group Holding's ( BABA ) cloud unit reduced the prices of its Qwen family of large language models by up to 97%, media outlets reported Tuesday.

The cost of Alibaba's ( BABA ) Qwen-Long model was cut to 0.0005 yuan ($0.000069) per 1,000 tokens from 0.02 yuan per 1,000 tokens, Reuters reported.

The announcement was followed by Baidu ( BIDU ) hours later, the report said.

Baidu ( BIDU ) said on LinkedIn that two lightweight LLMs of the Ernie model family, Ernie Speed and Ernie Lite, are now free of charge.

Alibaba ( BABA ) didn't immediately respond to a request for comment from MT Newswires.

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