None

Alibaba Group Holding Ltd. and Tencent Holdings Ltd. , along with other influential Chinese investors, have invested 2. 5 billion yuan ($342 million) in AI startup Zhipu this year. This influx of capital highlights the increasing interest in the red-hot arena of artificial intelligence. Beijing Zhipu Huazhang Technology Co. , backed by the country's largest tech firms as well as Ant Group Co. and Xiaomi Corp. , aims to develop domestic rivals to OpenAI's ChatGPT. HongShan (formerly Sequoia China), Meituan, and others also participated in the funding round. Another startup, Baichuan, received a $300 million investment from many of the same companies. Both Zhipu and Baichuan are well-known in the space of generative artificial intelligence, aspiring to compete with Microsoft Corp. -backed OpenAI and Google. Venture capital firms and tech leaders are pouring billions into the training and development of AI services, mirroring trends seen in Silicon Valley and Europe. Baidu Inc.
founder Robin Li recently declared his company's large language model, Ernie, as on par with OpenAI's GPT-4, positioning themselves at the forefront of the nationwide AI race. Zhipu, based in Beijing, was among the first Chinese firms to receive government approval for a public rollout in August. Since then, they have released an open-source model and a chatbot called Qingyan. The interest in Zhipu and similar startups signifies the broader implications of the intensifying competition between the US and China in the field of AI. It is expected to revolutionize various industries, including transportation, media, and finance, potentially driving a new phase of economic growth. Additionally, AI technology holds significance in government and military applications, which could further complicate the already strained relationship between Washington and Beijing. The US recently tightened restrictions on Chinese access to advanced chips, such as those produced by Nvidia Corp. and used for training and running AI models. Some Chinese industry experts believe that local AI developers may need to turn to alternative homegrown solutions in the future, although Washington has been adding AI chip design firms to its list of restricted entities.
Brief news summary
None
AI-powered Lead Generation in Social Media
and Search Engines
Let AI take control and automatically generate leads for you!

I'm your Content Manager, ready to handle your first test assignment
Learn how AI can help your business.
Let’s talk!
Hot news

Elon Musk Announces Grok AI Integration in Tesla …
Elon Musk, the visionary CEO of Tesla and AI startup xAI, has announced a major advancement in integrating artificial intelligence into electric vehicles.

Japan’s Gates to tokenize $75M in Tokyo real esta…
Japanese real estate investment firm Gates Inc.

xAI Debuts Grok 4, 'Smartest AI in the World'
On July 10, 2025, Elon Musk and xAI officially introduced their latest AI model, Grok 4, in a highly anticipated livestream event.

Bitcoin Reaches New All-Time High Amid Regulatory…
Bitcoin has recently surged to a new all-time high of $112,676, marking a significant milestone that reflects strong, sustained bullish sentiment among investors and traders.

Microsoft Racks Up Over $500 Million in AI Saving…
According to a recent Bloomberg News report, Microsoft has effectively utilized artificial intelligence (AI) to achieve substantial cost savings and enhanced productivity across multiple business areas.

Monad Acquires Portal Labs to Expand Stablecoin P…
Monad Acquires Portal Labs to Enhance Stablecoin Payments on High-Speed Blockchain Following the acquisition, Raj Parekh, co-founder of Portal and former Visa crypto director, will head Monad’s stablecoin strategy

SEC's 'crypto mom' says tokenized securities are …
Hester Peirce, a Republican commissioner at the U.S. Securities and Exchange Commission (SEC) and a prominent advocate for the cryptocurrency sector, recently emphasized the vital importance of regulatory compliance for tokenized securities.