Muichiro.T
Active member
Chinese generative AI startup Baichuan raised from multiple cities and firms like Tencent and Xiaomi as it has a valuation of 20 billion yuan and Alibaba Group Holding Ltd. invested 5 billion yuan ($691 million) in Baichuan. Launched in April 2023, Baichuan belongs to a few Chinese companies that have obtained permission for public AI use and has launched 12 large language models. That marks the third major investment in AI this year for Alibaba as it attempts to diversify outside of its core competency, just like Microsoft has done. New Alibaba chief executives, Joseph Tsai and Eddie Wu, are actively using AI to adapt to new regulation and challenges on the way and split the company’s business into separate lines. Since this strategy is in line with China’s national strategic plan to mitigate reliance on western technology. This strategy is in sync with what China as a nation seeks for namely attaining efficient and independent technology.
