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{"id":33929,"date":"2023-06-01T22:29:43","date_gmt":"2023-06-01T22:29:43","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/06\/01\/as-part-of-ai-push-chinese-tech-giant-baidu-is-now-rolling-out-an-ai-venture-fund\/"},"modified":"2023-06-01T22:29:44","modified_gmt":"2023-06-01T22:29:44","slug":"as-part-of-ai-push-chinese-tech-giant-baidu-is-now-rolling-out-an-ai-venture-fund","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/06\/01\/as-part-of-ai-push-chinese-tech-giant-baidu-is-now-rolling-out-an-ai-venture-fund\/","title":{"rendered":"As part of AI push, Chinese tech giant Baidu is now rolling out an AI venture fund"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/31\/as-part-of-ai-push-chinese-tech-giant-baidu-is-now-rolling-out-an-ai-venture-fund\/<\/a><\/br>
\nAs part of AI push, Chinese tech giant Baidu is now rolling out an AI venture fund<\/br>
\n2023-06-01 22:29:43<\/br><\/p>\n

\n

Here comes yet more money for AI startups. Today, the Chinese search giant Baidu announced that it plans to establish a venture fund with 1 billion yuan ($145 million) to back startups focused on content generated by artificial intelligence applications.<\/p>\n

Reuters, which reported<\/a> the news earlier, said the company will also launch a competition for developers who build applications off its ERNIE large language model (LLM) or integrate the model into their existing products.<\/p>\n

Baidu appears to be stealing a page from the playbook of OpenAI, the U.S. company that\u2019s been taking the world by storm and that first set aside $100 million for an OpenAI Startup Fund in 2021. (Per a recent filing<\/a>, that fund subsequently grew to $175 million.)<\/p>\n

Still, the two companies are hardly alone in wanting to fund startups that could become customers or even eventual acquisition targets. Google, for example, is reportedly<\/a> participating in the newest round of funding for Runway AI, whose software can conjure up images and videos based on just a few words. (According to The Information, Google is investing off its balance sheet instead of via a dedicated fund.)<\/p>\n

Meanwhile, in China, as in the U.S., leading companies are racing to dominate in a world that\u2019s increasingly awash in generative AI.<\/p>\n

Several days ago, for example, Baidu\u2019s billionaire founder Robin Li said the company will soon launch a new version of a large-language model, one that powers its ChatGPT-like service, Ernie Bot, which it first unveiled in March.<\/p>\n

Another Chinese tech giant, Alibaba, said last month<\/a> that its own large language model, Tongyi Qianwen, will be integrated across its businesses to improve user experiences.<\/p>\n

Tencent is also working on a foundation model, called HunyuanAide.<\/p>\n

All are trailing the momentum of OpenAI\u2019s popular ChatGPT chatbot, though ChatGPT\u2019s use was banned<\/a> by the Chinese government back in February, giving them a chance, potentially, to catch up.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/05\/31\/as-part-of-ai-push-chinese-tech-giant-baidu-is-now-rolling-out-an-ai-venture-fund\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/31\/as-part-of-ai-push-chinese-tech-giant-baidu-is-now-rolling-out-an-ai-venture-fund\/ As part of AI push, Chinese tech giant Baidu is now rolling out an AI venture fund 2023-06-01 22:29:43 Here comes yet more money for AI startups. Today, the Chinese search giant Baidu announced that it plans to establish a venture fund with 1 billion yuan ($145 million) to back startups focused on content […]<\/p>\n","protected":false},"author":1,"featured_media":33930,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-33929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nAs part of AI push, Chinese tech giant Baidu is now rolling out an AI venture fund - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/06\/01\/as-part-of-ai-push-chinese-tech-giant-baidu-is-now-rolling-out-an-ai-venture-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"As part of AI push, Chinese tech giant Baidu is now rolling out an AI venture fund - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/05\/31\/as-part-of-ai-push-chinese-tech-giant-baidu-is-now-rolling-out-an-ai-venture-fund\/ As part of AI push, Chinese tech giant Baidu is now rolling out an AI venture fund 2023-06-01 22:29:43 Here comes yet more money for AI startups. 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