Meituan, China’s leading food delivery company, has announced a substantial investment in artificial intelligence (AI), committing billions of dollars toward acquiring chips essential for training AI models. This initiative aligns with similar strategies adopted by other Chinese tech giants, such as Alibaba, which recently pledged 380 billion yuan toward cloud computing and AI infrastructure over the next three years.
The company’s CEO, Wang Xing, revealed these plans during a recent post-earnings call, indicating that Meituan intends to escalate its capital expenditure on AI technology throughout the year. This move underscores the escalating competition among Chinese technology firms to enhance their AI capabilities and infrastructure.
In addition to its AI investments, Meituan reported a 20% increase in quarterly revenue, reflecting the company’s robust growth and its commitment to integrating advanced technologies across its services.
Meituan’s strategic focus on AI is expected to bolster its competitiveness in the rapidly evolving tech landscape, positioning the company to better serve its vast consumer base and maintain its leadership in the market.
