From Financial Times: 2024-05-02 23:25:55

Four Chinese generative artificial intelligence start-ups, including Zhipu AI, Moonshot AI, MiniMax, and 01.ai, have been valued at between $1.2bn and $2.5bn, vying to lead the market against US rivals. China’s generative AI start-ups have raised Rmb14.3bn ($2bn) in funding this year and are competing for the top spot with innovative products like avatar chatbots. MiniMax, valued at $2.5bn, has launched AI avatar chatbots targeting the gaming market. Despite US export restrictions, Chinese AI start-ups are leveraging existing computing resources and engineering talent to develop competitive AI applications, with a focus on using open source models to conserve computing power.



Read more at Financial Times: Four start-ups lead China’s race to match OpenAI’s ChatGPT