Baidu and Alibaba increased prices for their AI computing services. The price hikes signal a strategic shift toward token-based pricing models to monetize generative AI demand.
U.S.-listed Chinese stocks faced downward pressure following the announcement. The People's Bank of China maintained its loan prime rate, contributing to broader market weakness.
Bipartisan U.S. lawmakers also pressured the SEC to tighten controls on Chinese firms. These measures aim to restrict access to U.S. capital markets.