Beijing-based 01.AI, founded by Lee Kai-fu, former chief of Google China, is making significant strides in the competitive open-source AI arena. Launched officially in July, the startup has rapidly reached a valuation of $1 billion, riding the global wave of interest in open-source AI models.
In a bid to secure additional capital, 01.AI aims to raise up to $200 million, with reports suggesting a focus on U.S. dollar-based investors. Sources involved in the fundraising efforts have chosen to remain anonymous, citing the sensitive nature of the details.
The company's push towards open-source aligns with a broader trend in China, where major players like Meta and Alibaba are actively deploying large language models (LLMs) for public use. 01.AI has positioned itself as a frontrunner, achieving the $1 billion valuation milestone in early November, a few months after its official launch.
One of the pivotal moments for 01.AI occurred when its Yi-34B model claimed the top spot on Huggingface's leaderboard in November. This recognition, within a platform known for sharing and rating LLMs, has bolstered the startup's ambitious fundraising goals.
The move towards open-source AI models is not without its critics. OpenAI, the creator of ChatGPT, has adopted a closed approach, expressing concerns about potential misuse. In contrast, Alibaba's cloud arm, known as AliCloud, actively embraces open-source principles. Jingren Zhou, the Chief Technology Officer of Alibaba Cloud, emphasized the importance of building an open-source ecosystem for LLMs and AI applications.
Zhou stated that Alibaba Cloud aims to be the most open cloud, providing accessibility to generative AI capabilities for everyone. Beyond open-sourcing its AI models, Alibaba Cloud is actively supporting startups like 01.AI in areas such as model training and deployment processes.
China's AI landscape is witnessing intensified competition and collaboration, as evidenced by 01.AI's ambitious fundraising efforts and Alibaba's commitment to open-source AI models. The reported involvement of AliCloud in 01.AI's fundraising suggests a strategic alliance that could play a pivotal role in shaping the future of open-source AI development in the region.
