SHANGHAI, May 31 (Reuters) – Chinese search giant Baidu (9988.HK) plans to invest 1 billion yuan (145 million yuan) to back start-ups focused on content generated by artificial intelligence applications. million) venture capital fund. Wednesday.
The company also added that it plans to launch a contest for developers to build applications from the ERNIE Large Language Model (LLM) or integrate the model into existing products.
Chinese tech companies are racing to release their own LLM following the dramatic success of ChatGPT, an AI-powered chatbot released by Microsft-backed OpenAI.
About 80 organizations in China have launched their own LLMs since 2020, with slightly more releases than the US this year, a report found this week.
In March, Baidu announced Ernie Bot, its own AI-powered LLM. E-commerce giant Alibaba Group Holding (9988.HK) is among other Chinese companies that quickly followed suit.
In response to the surge in LLMs, China released draft regulations on the use of generative AI in April.
($1=6.9121 Chinese Yuan)
Reporting by Josh Horwitz, Samuel Shen, and Jason Xue.Editing: Clarence Fernandez
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