Dragon China News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Alibaba Group (NYSE:BABA) has drastically cut prices on its AI services by up to 97%, sparking a fierce price war in China's burgeoning AI sector. Competitors Baidu (NASDAQ:BIDU) and ByteDance have swiftly responded with aggressive pricing and free services. This competition highlights the intense race among Chinese tech giants, including Tencent, to dominate the AI market, fueled by massive investments and strategic restructuring efforts.

Baidu, Inc (NASDAQ: BIDU) reported a fiscal first-quarter 2024 revenue growth of 1% year-on-year to $4.37 billion, beating the analyst consensus estimate of $4.32 billion. Baidu's adjusted earnings per ADS of $2.76 beat the analyst consensus estimate of $2.30. Segments: Baidu's Core revenue increased 4% year over year to $3.30 billion; Online marketing revenue improved 3% year over year to $2.36 billion. Non-online marketing revenue grew 6% year over year to $935 million, driven by the AI Cloud

Invesco Golden Dragon China ETF (NASDAQ:PGJ – Get Free Report) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 129,600 shares, an increase of 239.3% from the January 31st total of 38,200 shares. Based on an average trading volume of 61,600 shares, the short-interest ratio is […]

Invesco Golden Dragon China ETF (NASDAQ:PGJ – Get Free Report) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 38,200 shares, a decrease of 7.3% from the January 15th total of 41,200 shares. Based on an average daily volume of 55,600 shares, the […]

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