Pandaily Digest | Feb 24, 2023
Editor's not: In the large language model R&D craze brought to the mainstream by ChatGPT, tech giants in China declared their intention. ByteDance is also one of the players in the field.
ByteDance Joins China’s Large Language Model R&D Boom Driven by ChatGPT
In the large language model R&D craze brought to the mainstream by ChatGPT, tech giants and entrepreneurs in China declared their intention. TikTok parent company ByteDance is also one of the players in the promising field. Link
Headlines from China
Chinese TV Series Based on The Three-Body Problem to Welcome a Second Season
This year, the Chinese TV series based on "The Three-Body Problem", a popular sci-fi novel series, was highly praised. The chief producer said lately that he would put more strength into the second season to reward the numerous fans of the sci-fi drama. Link
SHEIN to Secure New Funds, Valuation Drops Below $70B
Chinese online fashion group SHEIN reportedly is about to close a new fundraising round at a reduced valuation of between $65 billion and $70 billion. Link
Carrefour China Given State-owned Funding Amid Bankruptcy Speculation
Supermarket chain Carrefour China, affected by the impact of e-commerce and the epidemic, reached a cooperation agreement with a state-owned facility in East China’s Anhui Province on February 20 to help with its business upgrading. Link
The Rise of ChatGPT Attracts Chinese Tutoring Institutions
Private tutoring businesses in China are exploring new growth avenues since the introduction of the "Double Reduction" policy. With the rising popularity of ChatGPT, they have started to incorporate AI into its training products. Link
China’s Tech Sector Sees Opportunity as Beijing Bans OpenAI’s ChatGPT
Regulators in Beijing reportedly have pressured major Chinese tech companies to withhold ChatGPT services to the public. The disallowance of OpenAI's chatbot may propel the rise of China's own AI chatbots to the technological forefront in the country. Link
Xiaomi’s Second Smartphone Factory to be Completed by End of Year
On February 24, Wang Hua, General Manager of Xiaomi's Public Relations Department, said that the main structure of the company's second smartphone factory in Beijing has been completed, and the whole project will be completed by the end of this year. Link
Didi Issues Incentives for Drivers after Resuming New User Registration
Didi, a Chinese ride-hailing giant which recently resumed the registration of new users, launched an incentive program for drivers operating within Beijing's Fifth Ring Road. Link
Baidu Plans to Integrate Ernie Bot into Multiple Products
Robin Li, CEO of Baidu, a Chinese tech giant that is planning to launch a new generation of its large language model Ernie Bot in March, issued an internal letter on February 22 to further introduce the ChatGPT-style chatbot and the development of AI technology. Link
Baidu-Backed Streaming Platform iQIYI Records Full-Year Profit
According to the financial report released by Baidu's Netflix-style offshoot iQIYI on February 22, the company recorded a Non-GAAP net income of 1.3 billion yuan ($186.2 million), compared to its non-GAAP net loss of 4.5 billion yuan ($653 million) in 2021. Link
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