Posted 10/17/2023, 8:51:48 AM
Chinese AI Startup Baichuan Raises $300 Million From Tech Giants Amid Generative AI Craze
- Chinese AI startup Baichuan raises $300 million from investors including Alibaba, Tencent, Xiaomi
- Fundraising follows early $50 million angel round
- Comes amid craze over generative AI in China and race to find rival to ChatGPT
- Investors warn shakeout coming due to cost and profit pressures
- Baichuan founded by Sogou founder Wang Xiaochuan, got approval to release public chatbot
- Baidu unveils new generative AI model Ernie 4.0, claims on par with GPT-4
