Beijing-based artificial intelligence (AI) startup 01.AI is not only raising $200 million in a new funding round, but also just hit a $1 billion valuation last month thanks to surging global interest in open-source artificial intelligence models.
01.AI is part of the exciting movement to open their large language models to public use, joining other big players in the industry. This race to gain users and catch up with market leader OpenAI is heating up!
Get this – 01.AI was just officially launched in July and reached a $1 billion valuation in early November. Now, they are seeking additional investments from U.S. dollar-based investors. Impressive, right?
01.AI recently made waves in the open-source large language model (LLM) community by having its Yi-34B model top the leaderboard on the Hugging Face platform. This achievement has been a game-changer for the company!
The debate over open-sourcing AI models is heating up, with big names like Meta and Alibaba making moves. Even tech giant Alibaba’s cloud division is getting in on the action, releasing its own LLM and topping the leaderboard on Hugging Face. It’s an exciting time for the industry!
Alibaba Cloud is not only working on building an open-source ecosystem for LLM and AI applications, but it’s also supporting smaller open-source AI startups like 01.AI. The two companies are collaborating on model training, deployment, and funding. The potential for success is huge!
This ongoing debate around the open-sourcing of AI models is adding complexity to the journey, but 01.AI’s strides could further elevate China’s prowess in the emerging AI technology. It’s definitely a story to keep an eye on!