An 'across-the-spectrum rethink' needed as firms eye use of AI in procurement
The disparity between the relentless hype and its present limitations has left most people sceptical ...
Photo: © Filindmitriy86 | Dreamstime.com
REUTERS reports:
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. The investors include smartphone maker Xiaomi (1810.HK) and other investment firms, it added.
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. Investors have warned, however, that a shakeout is imminent as cost and profit pressures grow.
To read the full post, please click here.
Comment on this article