Pandaily Digest｜Mar 29, 2023
Editor's note: Chinese AI company Baidu held a closed-door communication meeting on March 27 with the first batch of companies and released cloud services and application products related to ERNIE Bot
Baidu AI Cloud Releases “Wenxin Qianfan” Large-Scale Model Platform
Chinese AI company Baidu on March 27 held a closed-door communication meeting with the first batch of companies and released cloud services and application products related to ERNIE Bot, its latest conversational AI bot. Baidu AI Cloud also released an all-in-one enterprise-level large-scale model platform called “Wenxin Qianfan”, which will provide customers with language model services. Link
Headlines from China
Ant Group Initiates Largest Executive Rotation in Nearly 7 Years at Alipay
Chinese fintech giant Ant Group’s Alipay business group has recently launched its largest executive rotation in nearly seven years. The reshuffle involved multiple departments and resulted in changes to the positions of several vice presidents and senior directors. Link
Chinese Social Platform Soul’s Developer Mulls Hong Kong Listing Again
Soulgate Inc., the developer of the social media app Soul, has submitted another listing application to the Hong Kong Stock Exchange on March 27. The joint sponsors for this application are BofA Securities and China International Capital Corporation. Link
Meituan Co-Founder’s AI Startup to Acquire OneFlow Technology
Amidst the ChatGPT frenzy this year, China’s artificial intelligence (AI) market witnessed its first acquisition. On March 27, a report by 36Kr revealed that Lightyear Technology, an AI company founded by Wang Huiwen – the billionaire co-founder of Chinese food delivery giant Meituan – will acquire Beijing OneFlow Technology, an AI architecture startup. Link
News You Shouldn’t Miss
Intelligent Truck Manufacturer DeepWay Secures A+ Round Financing of $117M
DeepWay, an intelligent truck manufacturer based in China, has secured over 1.2 billion yuan ($174 million) in funding after completing its A+ round financing of 770 million yuan ($117 million). The recent funding was led by Shandong Weiqiao Pioneering Group and SB China Capital. Link
The U.S. Commodity Futures Trading Commission Sues Binance Founder CZ
The US Commodity Futures Trading Commission (CFTC) filed a lawsuit against CZ, the founder of cryptocurrency exchange Binance, accusing the company of intentionally providing unregistered cryptocurrency derivative products in the United States in violation of federal laws. Link
Tencent Releases 3D Virtual Scene Automatic Generation Solution
Tencent AI Lab unveiled its self-developed 3D game scene automatic generation solution at the 2023 Game Developers Conference. Through AIGC technology, this solution helps developers create highly realistic and diverse virtual city scenes in a very short amount of time, greatly improving game development efficiency. Link
NIO Opens First Third-generation Battery Station in Hainan
Compared with the second-generation battery swap station, NIO’s third-generation swap station adopts a new three-position collaborative swapping mode that reduces the circulation path of batteries to a minimum and shortens swapping time by 20%, while improving service capacity by 30%. Link
Xiaomi Awards 4,110 Participants with Total Equity Value of $290 Million
On the morning of March 28th, Xiaomi announced on the Hong Kong Stock Exchange that its board of directors awarded a total of 190 million shares of incentive shares to 4,110 selected participants under the share incentive plan on March 27th, 2023. Link
NetEase, miHoYo and Other Chinese Firms Are Competing for AI Talent with High Salaries
The rapid development of AI technology in China has led to an increased demand for AI talent, resulting in high salaries being offered by companies such as Tencent, NetEase, miHoYo, Papergames, Perfect World, XD Inc. and Giant Network Group. Link
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