Four Chinese generative artificial intelligence start-ups have been valued at between $1.2bn and $2.5bn in the past three months, leading a pack of more than 260 companies vying to emulate the success of US rivals such as OpenAI and Anthropic.
The newly minted unicorns — Zhipu AI, Moonshot AI, MiniMax and 01.ai — have gained significant backing from a largely domestic pool of investors and are fighting to hire the best talent to develop the most popular AI products.
“There is no winner of foundation models yet in the China market. These are some of the names leading the charge to claim that title,” said Charlie Dai, vice-president and principal analyst at tech-focused consultancy Forrester.
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