A number of new Chinese AI businesses have emerged in response to OpenAI’s ChatGPT’s withdrawal from the Chinese market, all hoping to take advantage of the chance to become market leaders in generative AI.
These businesses, supported by large regional investors, are building advanced artificial intelligence that can generate a wide range of material, including photos, writing, and music, and they challenge OpenAI’s worldwide leadership.
In China’s artificial intelligence (AI) space, four notable businesses have emerged as market leaders, with four of them reaching unicorn status (valuations above $1 billion). Zhipu AI is priced at $2.5 billion and is supported by industry heavyweights such as Alibaba Cloud and Tencent. They have gathered a staff of 800 people and are focused on offering complete AI solutions.
Another company with a valuation of $2.5 billion, Moonshot AI, aims its text summarization technology towards office workers and students. With over 12 million visits in March alone, their AI chatbot, Kimi, witnessed incredible development.
The Shanghai-based MiniMax takes a novel tack by attracting players with anime-themed avatars. So far, the Chinese market has not produced a winner among foundation models. According to Charlie Dai, VP and senior analyst at tech-focused firm Forrester, who spoke to the Financial Times, these are among the names who are spearheading the effort to claim that title.
The competition for artificial intelligence supremacy is escalating and opening up new opportunities for the sector, with over 262 Chinese AI businesses providing ChatGPT alternatives to the Chinese market.
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