Chinese AI start-ups power ahead in the race to overtake ChatGPT

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Overall, China’s generative AI start-ups have disclosed a fundraising total of 14.3 billion yuan (€1.8 billion) in the first four months of the year. Photograph: Mark Cristino/EPA Four Chinese generative artificial intelligence start-ups have been valued at between $1.2 billion (€1.1 billion) and $2.5 billion (€2.3 billion) 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...