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Chinese tech giants Tencent and iFlytek have entered a price war by slashing prices of their large-language models (LLMs) used for ChatGPT-like chatbots. This move comes after similar price cuts by Alibaba, Baidu, and Bytedance. Both Tencent and iFlytek claim their LLMs perform better than U.S.-based OpenAI’s ChatGPT. iFlytek’s Spark Lite is now free for public use, while Spark Pro/Max is significantly cheaper than competitors’ LLMs.