HONG KONG -- China's cloud service providers are racing to turn generative AI hype into real revenue as they struggle for growth in an already crowded market.

In China, the buzz over AI models was expected to spur a significant increase in demand for AI computing and related services, but the most recent quarterly earnings did not paint the expected rosy picture. (Photo by Reuters) © Reuters
Alibaba, Baidu and ByteDance battle for customers as a price war weighs on revenue