Alibaba, Tencent among investors in China's rival to OpenAI with $341 million funding
Publishing timestamp: 2023-10-20 10:58:06
Summary
Chinese AI start-up Zhipu has raised over 2.5 billion Chinese yuan ($341 million) this year, with backing from tech giants Alibaba and Baidu. Zhipu aims to be China's answer to U.S. firm OpenAI in the artificial intelligence space. The investment comes at a time when the technology battle between the U.S. and China is intensifying, with AI at the forefront. China sees AI as a key technology for economic development and plans to increase its computing power by 50% by 2025. Zhipu is among several Chinese start-ups supported by major technology companies, while Alibaba, Tencent, and Baidu are also developing their own AI models.
Sentiment: POSITIVE
Keywords: baidu inc, generative ai, technology, business news, china, alibaba group holding ltd, tencent holdings ltd, artificial intelligence, internet,
Source: https://www.cnbc.com/2023/10/20/alibaba-tencent-among-investors-in-zhipu-chinas-openai-rival.html