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Fear & Greed:
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Bitcoin:
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BTC Dominance:
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Market Cap:
$2.37 T

ChatGPT Who? Chinese AI Boom Breeds Generative Powerhouses

Chinese Ai

With OpenAI’s ChatGPT out of the country, a number of new Chinese AI startups have also come onto the scene, with each aiming to be the dominant force in the generative AI market.

Those companies that could become a real rival to the world leadership of OpenAI are now receiving financing from high-profile local investors and are developing modern artificial intelligence (AI) systems intended for creating content of all sorts—photos, writings, and music.

All four most prominent Chinese AI companies have turned into unicorns and are now valued at over $1 billion. Zhipu AI, with a value of $2.5 billion, takes first place, supported by such industry titans as Tencent and Alibaba Cloud. Focusing on providing integrated AI solutions, they have put together a team of 800 people.

Moonshot AI, another company rated at $2.5 billion, uses text summarization technology angled towards office workers and students. Kim’s artificial intelligence chatbot was visited by more than twelve million people in March alone, which is a clear example of its incredible growth.

MiniMax, a Shanghai company, employs anime-inspired characters to lure players in an exclusive way. Their interactive avatars are valued at $2.5 billion and can make people laugh, reply to them, or flirt. Wanzhi, which emphasizes efficiency, is only one instance of how 01.AI—valued at $1.2 billion—favors open-source models that are tailored to China’s specifics.

At present, the Chinese market does not have one champion among the foundation models. These are some of the names anointed by Charlie Dai, VP and Principal Analyst at tech-focused firm Forrester, in an interview with the Financial Times.

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The race for dominance in artificial intelligence is unfolding and bringing new opportunities for the sector, as there are over 262 Chinese AI businesses offering ChatGPT alternatives to the Chinese market.

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