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Beijing-based artificial intelligence (AI) startup 01.AI is raising $200 million in a new funding round. This comes on the heels

Beijing-based AI startup 01.AI is raising up to $200 million in fresh capital, two sources familiar with the matter said, building on a valuation of $1 billion reached last month on the back...

One of the sources said 01.AI, officially launched by Lee Kai-fu, hit a valuation of $1 billion early in November.

BEIJING/HONG KONG (Reuters) -Beijing-based AI startup 01.AI is raising up to $200 million in fresh capital, two sources familiar with the matter said, building on a valuation of $1 billion reached last month on the back of surging global interest in open-source AI models. It is one of several Chinese startups that opened, or plan to open, to public use their large language models (LLM), alongside larger firms Meta and Alibaba in a scramble to gain users and catch up with market leader OpenAI. On

Chinese AI Startup: 01.AI drew recognition in the open-source LLM community in November, when its Yi-34B model became the first Chinese LLM to top the leaderboard of Huggingface, a platform for tech firms to share LLMs, which then get rated for performance and popularity.