Chinese AI Startup Baichuan Secures $300M Funding from Alibaba and Tencent

NNicholas October 17, 2023 1:01 PM

Alibaba and Tencent join forces to fund Baichuan, a budding Chinese AI startup. The $300 million investment is expected to boost the startup's endeavors in the AI sector, amidst a surge of interest in ChatGPT-like services. The company, already valued at over a billion dollars, aims to rival the likes of Microsoft Corp and OpenAI.

Alibaba and Tencent fund Baichuan

Tech giants Alibaba and Tencent have shelled out $300 million to back Baichuan, a Chinese AI startup showing high potential. Baichuan is among the many ambitious Chinese startups hoping to leverage the current enthusiasm for developing services akin to the ChatGPT model. This funding round is expected to significantly boost Baichuan's efforts in the AI arena, contributing to the global race to advance this powerful technology.

Baichuan's generative AI development

Baichuan, now funded by Alibaba and Tencent, is becoming a notable name in China's AI industry. The startup is developing generative AI, aspiring to compete head-on with global powerhouses like Microsoft Corp and OpenAI. With such bold ambitions and significant financial backing, Baichuan is poised to make substantial strides in the AI field.

The competitive landscape in the AI industry is complicated by US sanctions that limit China's access to the most advanced chips crucial for training and running AI models. These restrictions could potentially create hurdles for Chinese startups like Baichuan, who are in a fierce race to develop next-generation AI technologies. However, the commitment from heavyweights like Alibaba and Tencent indicates their determination to navigate these challenges.

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