The popular company Alibaba has broken the record for the largest investment made for a Chinese startup last week. Allocating a whopping $1 billion budget for Moonshot AI, the company is aiming to become a strong competitor for Silicon Valley companies focusing on artificial intelligence, especially Microsoft. It’s rumored that the Alibaba management, impressed by the hype surrounding OpenAI’s chatbot ChatGPT, will embark on bold projects as long as they receive support from the Chinese government. Here are all the details…
Alibaba Could Be Ambitious in the Field of Artificial Intelligence
Moonshot AI, founded in March 2023, had already caught the attention of Chinese investors with its revolutionary artificial intelligence technologies. The company even launched a chat assistant named Kimi. The company’s stock value continues to soar every passing day.
However, the company’s executives have refrained from making any statements about the massive Alibaba investment. This is reportedly due to restrictions imposed by the Chinese government on information sharing due to espionage concerns in the field of artificial intelligence.
Alibaba, which has faced major investigations and tough times by the Chinese government in recent years, is looking to catch up with the artificial intelligence trend to shake off its lethargy. However, achieving success in such a fiercely competitive field seems challenging for the company.
Additionally, the embargoes imposed by the United States on Chinese companies are another factor weakening Alibaba’s position. The American government recently restricted the sale of Nvidia’s artificial intelligence chips to Chinese companies.
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