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Wang Xiaochuan - 3 Josh Ye - 3 Baichuan - 2 Roxanne Liu - 2 China's - 2 Kai - 2 Fu Lee - 2 Lei Jun - 1
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HK - 3 Baidu - 3 Thomson - 3 Microsoft - 2 Huawei - 2 Baichuan Intelligence - 2 Google - 2 Shunwei - 1

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☆ Chinese AI startup Baichuan raises $300 mln from Alibaba, Tencent, others
  + stars: | 2023-10-17 | by ( ) www.reuters.com   time to read: +1 min
HONG KONG/BEIJING, Oct 17 (Reuters) - Chinese artificial intelligence (AI) startup Baichuan has raised $300 million from investors including Chinese tech giants Alibaba (9988.HK) and Tencent (0700.HK), it said on Tuesday. The company said on its WeChat account that the round followed an early $50 million angel round. China's craze over generative AI has triggered a flurry of product and fundraising announcements from startups and tech giants, as the industry races to find a homegrown rival to Microsoft-backed OpenAI's ChatGPT. Shunwei Capital, a venture capital firm chaired by Xiaomi's chief executive Lei Jun, participated in the capital raise, according to a source familiar with the matter. Baidu (9888.HK) on Tuesday unveiled the newest version of its generative AI model, Ernie 4.0, saying its capabilities were on par with OpenAI's pioneering GPT-4 model, but analysts cautioned the launch lacked major highlights versus the previous version.
Persons: Wang Xiaochuan, Baichuan, Lei Jun, Shunwei, Ernie, Josh Ye, Roxanne Liu, Jason Neely, Emelia Organizations: HK, Microsoft, Shunwei, Baidu, Thomson Locations: HONG KONG, BEIJING, Hong Kong, Beijing
☆ China's AI 'war of a hundred models' heads for a shakeout
  + stars: | 2023-09-21 | by ( Josh Ye | ) www.reuters.com   time to read: +5 min
Additionally, companies have also announced dozens of "industry-specific LLMs" that link to their core model. However, investors and analysts say that most were yet to find viable business models, were too similar to each other and were now grappling with surging costs. Several other big name entrepreneurs and tech executives are behind new Chinese AI startups, such as Google China's former chief Kai-Fu Lee and Yan Juejie, a former vice-president of SenseTime (0020.HK). Others said that China's largest tech companies Alibaba, Tencent and Baidu ultimately had the biggest headstart and deep pockets to succeed, given their large user bases and wide range of services. For instance, they could easily offer generative AI services as an additional plug-in to their cloud users.
Persons: Baidu's, Robin Li, Ernie Bot, Tingshu Wang, OpenAI's, Esme Pau, Pau, Yuan Hongwei, Meta, Baichuan, Wang Xiaochuan, China's, Wang, Yuan, Kai, Fu Lee, Yan Juejie, SenseTime, Tony Tung, Tung, Josh Ye, Brenda Goh, Sam Holmes Organizations: Baidu, REUTERS, HK, Huawei, Nvidia, China, Macquarie Group, Y, Baichuan Intelligence, Inc, Sogou, Google, Partners, Thomson Locations: Beijing, China, HONG KONG, Alibaba, United States, Washington, Shenzhen
☆ China AI startup MiniMax raising over $250 mln from Tencent-backed entity, others - sources
  + stars: | 2023-06-01 | by ( Roxanne Liu Josh Ye | Roxanne Liu | Josh Ye | ) www.reuters.com   time to read: +3 min
MiniMax was founded in 2021 by some former employees of SenseTime (0020.HK), including Yan Junjie - a former vice president at the Chinese AI firm, two other people said. Wang Huiwen, co-founder of on-demand service giant Meituan (3690.HK), said he has founded a new AI company called Beijing Lightyear Technology with $50 million from investors. Google China's former chief, Kai-Fu Lee, has unveiled his new startup - Project AI 2.0. Wang Xiaochuan, founder of China's No.2 search engine Sogou, said in April that he had founded Baichuan Intelligence with a startup capital of $50 million. Its other early investors include China's Yunqi Partners and Future Capital, statements from the venture capital funds show.
Persons: MiniMax, Yan Junjie, Wang Huiwen, Kai, Fu Lee, Wang Xiaochuan, China's, MiHoYo, Charlie Chai, ERNIE Bot, Chai, Roxanne Liu, Josh Ye, Himani Sarkar Organizations: Microsoft, HK, Huawei, Baidu, Beijing Lightyear Technology, Google, Baichuan Intelligence, China's Yunqi Partners, Future, 86Research, Thomson Locations: BEIJING, HONG KONG, China, Beijing, miHoYo, Hong Kong
☆ At China political meeting, internet bosses are out, chip execs are in
  + stars: | 2023-03-03 | by ( Laurie Chen | ) www.reuters.com   time to read: +4 min
HARDWARE FOCUSNewcomers to the events include representatives from chip firms Semiconductor Manufacturing International Corporation (SMIC), state-backed Hua Hong Semiconductor Ltd, Shandong Youyan Semiconductor Materials Co. in the NPC and Cambricon Techologies Corp in the CPPCC. Other new NPC delegates come from robotics, laser, aerospace and aeronautics firms. Delegates for the NPC and CPPCC are chosen every five years by the Communist Party and have the option to resign. Some celebrity CPPCC delegates did not reappear on this year's list, such as Hong Kong action star Jackie Chan, film director Feng Xiaogang and state television anchor Bai Yansong. Yao Ming, a retired basketball star who heads the Chinese Basketball Association, has moved from the CPPCC to the NPC.
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