Zipu and Baichuan are two major startups involved in China’s effort to use generative artificial intelligence, competing with Google and OpenAI.
Amidst the bustling AI market, Chinese AI startup Zipu announced It has secured $342 million (or 2.5 billion yuan) in funding from Chinese tech giants Alibaba Group Holding Limited (NYSE: BABA) and Tencent Holdings Limited (HKG:0700).
Hongshan, formerly Sequoia China, joined the recent funding round along with food delivery leader Meituan. China’s top two tech giants, along with key competitors such as Ant Group and Xiaomi, are among Beijing’s supporters of Zhipu Huazhang Technology. This private firm is attempting to develop a homegrown alternative to OpenAI’s ChatGPT. These companies also recently participated in a $300 million funding round for another chatgpt Rival, Baichuan.
Zipu and Baichuan are two major startups involved in China’s effort to use generative artificial intelligence. Both players are looking to compete with global players like Google and Microsoft-backed OpenAI.
Based in Beijing, Zipu was one of the first Chinese companies to receive government approval for a public release in August. Subsequently, it introduced an open-source model and a chatbot called Kingyan.
China challenges America in AI
The interest in Zipu and similar companies highlights the broader implications of the growing competition between the United States and China in the field of AI. The competition is expected to bring transformational change to various industries including transportation, media and finance, potentially ushering in a new phase of economic growth. AI technology also has significant applications in government and military sectors, which could further complicate already strained relations between Washington and Beijing.
Venture capital firms and technology leaders are investing billions in AI development and training, echoing the increase in AI-related activity in Silicon Valley and Europe. Recently, Robin Li, the billionaire founder of Baidu Inc, claimed that the company’s big language model, Ernie, is equivalent to OpenAI’s GPT-4, indicating a competitive stance in this national race.
The US recently imposed tight restrictions on Chinese access to advanced chips provided by companies such as Nvidia Corp, which are needed to train and run AI models. Many experts in the Chinese AI industry believe local developers may eventually need to turn to domestic alternatives, although Washington is expanding sanctions to include AI chip design firms on its list of sanctioned entities. .

Bhushan is a fintech enthusiast and has a good grasp of understanding the financial markets. His interest in economics and finance drew his attention to the newly emerging blockchain technology and cryptocurrency markets. He is in a constant process of learning and keeps himself motivated by sharing his acquired knowledge. In his spare time he reads adventure fantasy novels and occasionally explores his culinary skills.
Bitcoin Crypto Related Post