LLM Vendors Rush to Sell Tokens, Kimi and MiniMax Reportedly to Open Stores on Tmall
Summary
According to exclusive reporting by Shanghai Securities News, several LLM vendors including Kimi, MiniMax, and StepFun are in talks with Tmall to open official flagship stores selling token subscription packages. Previously, Zhipu had already opened a store on Tmall, offering a subscription plan based on GLM-5.3. Tmall also launched a token top-up center, initially integrating vendors such as Alibaba Cloud, Zhipu, and Kimi. This indicates that LLM subscription services are entering traditional e-commerce platforms to expand sales channels.
Bubble analysis
This news does not directly address the investment bubble, but it reflects AI companies expanding sales channels to increase revenue, which may help narrow the gap between AI revenue and massive capital expenditure, thus somewhat mitigating bubble concerns.
Related signals
linked by shared tags
- Zhipu Sets Up Shop on Tmall, Plans to Sell Tokens Like Phone Credit#token#tmall
- OpenAI Researchers Burn $7,000 a Day on AI Coding, Cost Pressures Spark Industry Reflection#token
- AI Video Generation Crosses Real-Time Threshold, Enabling Continuous Streams and Interactive Stories#minimax
- On WorkBuddy's Open Platform Day, I Did the Token Math#token
- China's Open-Source Models Are Becoming the Global AI Benchmark#minimax