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Story summary
- During the Chinese New Year, Alibaba Group, Baidu, ByteDance, and Tencent Holdings Ltd. invested about 8 billion yuan (US$1.1 billion) to promote AI assistants, per Morgan Stanley.
- After the holiday, early data shows varying degrees of "traffic normalization" across platforms.
- Alibaba set a 3 billion yuan budget, and Morgan Stanley suggests actual spending may exceed 5 billion yuan.
- The marketing push aimed to make these AI assistants household names in China.
