Zhipu and Baichuan are among the better-known startups developing generative artificial intelligence, hoping to match the likes of Microsoft Corp.-backed OpenAI and Google. Venture capital firms and tech leaders are pouring billions into training and developing AI services, mirroring a wave of activity across Silicon Valley and Europe. On Tuesday, Baidu Inc. billionaire founder Robin Li declared his company’s large language model Ernie on par with OpenAI’s GPT-4, claiming the lead in that nationwide race.
Alibaba Group Holding Ltd. and Tencent Holdings Ltd. are among the influential Chinese investors that invested 2.5 billion yuan ($468.9 million) in AI startup Zhipu this year, part of a wave of capital flowing into a red-hot arena.
The country’s two largest tech firms joined rivals and peers from Ant Group Co. to Xiaomi Corp. in backing Beijing Zhipu Huazhang Technology Co., one of several private firms trying to build domestic rivals to OpenAI’s ChatGPT. HongShan, the former Sequoia China, and food delivery leader Meituan also took part, according to a company statement. Many of the same companies joined a recent US$300 million ($411.7 million) round of financing for Zhipu-rival Baichuan.
