Chinese AI startups are swiftly advancing in the generative AI sector, challenging industry giants like OpenAI. With ChatGPT unavailable in China, local firms such as Zhipu AI, Moonshot AI, MiniMax, and 01.ai are filling the gap, each surpassing a $1 billion valuation. These companies are leveraging significant local investor support and intensive talent acquisition to innovate and expand their AI product offerings. For instance, Zhipu AI, with 800 employees, reached a $2.5 billion valuation in its latest fundraising round, backed by major players including Alibaba Cloud and Tencent. Moonshot AI, also valued at $2.5 billion, focuses on digital assistants for educational and professional aid, quickly gaining traction with over 12 million visits in a single month.
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