Meituan Joins China AI Model Race After Revenue Jumps 20%
Meituan’s outperformance suggests the restaurant delivery business remains resilient.
Source: Bloomberg
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Meituan unveiled plans for the first time to develop its own AI model after reporting a 20% jump in quarterly revenue, becoming the latest big Chinese tech player to join an accelerating global wave of development.
China’s meal delivery leader is starting to integrate AI into work processes and across its range of consumer services, which include a travel site and e-commerce platform. It’s developing its own “LongCat” large language model, a platform that will compete with rivals such as ByteDance Ltd.’s Doubao and Alibaba Group Holding Ltd.’s Qwen.