Chinese AI start-up Baichuan raises US$700 million from Alibaba, Tencent, Xiaomi

Quick Summary:

The Beijing-based company is now worth more than US$2.7 billion, behind only fellow AI tiger’ Moonshot AI, as US capital remains sparse in the domestic industry.

Qwen2 was ranked the world’s best performing open-source model by LLM community Hugging Face when it was unveiled just after its launch last month.

Facebook owner Meta Platforms is now claiming that title for its Llama 3.1 model unveiled on Monday, underscoring just how fast the industry is moving.

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Article Details

Author / Journalist: Ben Jiang

Category: Business

Markets: Hong KongChina

Topics: Funding Alibaba Technology Baichuan China’s Founder Wang Funds Backed Billion Founded

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-25 @ 21:30:09 (6 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 424 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21773110

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