Core Insights - The article highlights the rapid growth of AI cloud services, particularly focusing on the significant increase in token usage for large models, with ByteDance's Volcano Engine leading the Chinese market with a 49.2% market share [5][6]. Group 1: Market Performance - Volcano Engine's usage of the Doubao large model surged from 120 billion tokens in May 2024 to over 30 trillion tokens by September 2025, marking a 253-fold increase [5]. - In the first half of 2025, the total token usage in China's public cloud large model market reached 536.7 trillion tokens, with Volcano Engine, Alibaba Cloud, and Baidu Smart Cloud holding 49.2%, 27%, and 17% market shares respectively [5][6]. Group 2: Industry Trends - The emergence of large models has differentiated the current AI cloud market from traditional cloud computing, which has entered a mature phase [5][8]. - The introduction of Model as a Service (MaaS) has contributed to a 60% revenue growth for Volcano Engine in 2024, alongside increased token usage [6]. Group 3: Future Outlook - The AI cloud market is expected to continue growing, with IDC predicting a hundredfold increase in the large model service market [9]. - Key trends include the integration of deep thinking models with multimodal understanding, advancements in video, image, and voice models, and the maturation of complex enterprise agents [9].

Core Insights - ByteDance's Volcano Engine has seen a dramatic increase in the usage of its Doubao large model, with token usage growing from 120 billion tokens in May 2024 to over 30 trillion tokens by September 2024, marking a 253-fold increase [2] - According to IDC's September report, the public cloud large model token usage in China is expected to reach 536.7 trillion tokens in the first half of 2025, with Volcano Engine holding a 49.2% market share, leading the market ahead of Alibaba Cloud and Baidu Smart Cloud [2] - The emergence of large models has revitalized the cloud industry, transitioning it from a mature phase to a new growth cycle, as evidenced by significant revenue growth in AI services from major cloud providers like Microsoft [2][3] Industry Trends - The AI cloud market is evolving with the introduction of Model as a Service (MaaS), which is contributing to a 60% revenue growth for Volcano Engine in 2024, alongside an increase in token usage [3] - The key differentiator in the current AI cloud market compared to traditional cloud computing is the service of large models, with token usage being a critical metric for measuring market scale [6] - The global AI large model landscape is advancing in three main directions: integration of deep thinking models with multimodal understanding, production-level capabilities in video, image, and voice models, and the maturation of complex enterprise agents [7] Future Outlook - The large model service market is projected to have over a hundredfold growth potential, driven by continuous technological breakthroughs and the expansion of model systems and tools [7] - The AI coding sector is identified as a significant future trend, with current limitations in model capabilities hindering its full potential in the domestic market [7] - The transition of user demographics from the general internet to traditional enterprises presents challenges that need to be addressed for further growth in the AI cloud sector [7]