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I don’t understand why supporters of Chinese open source keep pretending not to see what is happening right now: even Chinese “open-source” players are raising prices or gradually shifting toward more closed models.
I think China’s token dumping has already bottomed.
Just look at Zhipu, the company behind GLM-5.2. Even Zhipu has raised prices several times this year.
Chinese LLM developers cannot ignore ROI forever.
Open source is not the same thing as cheap API pricing.