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In an unprecedented Chinese New Year marketing blitz, Alibaba Group Holding, Baidu, ByteDance and Tencent Holdings spent an estimated 8 billion yuan (US$1.1 billion) to turn their artificial intelligence assistants into household names, according to Morgan Stanley.
Now the dust is settling.
A week after the holiday ended, early data offers a first glimpse into how China’s AI landscape is evolving and which players gained lasting traction from the spending spree.
Morgan Stanley said all platforms experienced “traffic normalisation” once the promotions ended, although the extent of the pullback varied.
Inside the spending blitz: who spent what
Alibaba publicly disclosed a 3 billion yuan headline budget, but Morgan Stanley estimated in a research note on Monday that actual spending may have exceeded 5 billion yuan. Alibaba owns the South China Morning Post.
