Four Chinese artificial intelligence (AI) start-ups, Zhipu AI, Moonshot AI, MiniMax, and 01.ai, have achieved ‘unicorn’ status with valuations exceeding $1 billion. These companies are now competing with U.S. giants like Microsoft-backed OpenAI and Amazon-backed Anthropic. The valuations of these start-ups have surged in the past three months, with significant backing from domestic investors and aggressive recruitment of top-tier talent. Zhipu AI, Moonshot AI, and MiniMax are valued at $2.5 billion each, while 01.ai, founded by AI pioneer Kai-Fu Lee, has rolled out open-source models tailored for the Chinese market. Despite a smaller investor pool compared to earlier AI surveillance start-ups, these companies have secured engineering talent and computing resources to train existing models. The Chinese government has offered “computing vouchers” to help these companies deal with rising data center costs. Additionally, the U.S. and China are set to hold high-level talks on AI to discuss potential risks and safety concerns. This development is significant in the context of the Destiny Tech100 DXYZ fund falling by 51.15% in the past month. The Benzinga Neuro content generation system has provided this information, utilizing the Benzinga Ecosystem to create comprehensive and timely stories.
Source link
Source link: https://www.benzinga.com/news/24/05/38607653/sam-altmans-openai-and-amazon-backed-anthropic-face-serious-competition-from-these-chinese-startups
Chinese startups challenge OpenAI and Amazon with Alibaba backing. #competition
Preeti
1.1k Views
0 Votes
GIPHY App Key not set. Please check settings