Right here comes but more cash for AI startups. Right this moment, the Chinese language search large Baidu introduced that it plans to ascertain a enterprise fund with 1 billion yuan ($145 million) to again startups centered on content material generated by synthetic intelligence purposes.
Reuters, which reported the information earlier, mentioned the corporate can even launch a contest for builders who construct purposes off its ERNIE massive language mannequin (LLM) or combine the mannequin into their current merchandise.
Baidu seems to be stealing a web page from the playbook of OpenAI, the U.S. firm that’s been taking the world by storm and that first put aside $100 million for an OpenAI Startup Fund in 2021. (Per a recent filing, that fund subsequently grew to $175 million.)
Nonetheless, the 2 corporations are hardly alone in desirous to fund startups that might develop into prospects and even eventual acquisition targets. Google, for instance, is reportedly collaborating within the latest spherical of funding for Runway AI, whose software program can conjure up photos and movies based mostly on only a few phrases. (Based on The Info, Google is investing off its stability sheet as a substitute of through a devoted fund.)
In the meantime, in China, as within the U.S., main corporations are racing to dominate in a world that’s more and more awash in generative AI.
A number of days in the past, for instance, Baidu’s billionaire founder Robin Li mentioned the corporate will quickly launch a brand new model of a large-language mannequin, one which powers its ChatGPT-like service, Ernie Bot, which it first unveiled in March.
One other Chinese language tech large, Alibaba, mentioned final month that its personal massive language mannequin, Tongyi Qianwen, might be built-in throughout its companies to enhance person experiences.
Tencent can also be engaged on a basis mannequin, known as HunyuanAide.
All are trailing the momentum of OpenAI’s well-liked ChatGPT chatbot, although ChatGPT’s use was banned by the Chinese language authorities again in February, giving them an opportunity, probably, to catch up.