Sinovation Ventures Ambitious To Build A New “Chinese Version ChatGPT”

Key Points:

• Sinovation Ventures President and CEO announced that he is preparing to build a new AI engine with the goal of not only the Chinese version of ChatGPT but also hopes to recruit people from all over the world.
• The company is now hoping to “recruit talent” globally.
• It was previously reported in February that former Meituan co-founder Wang Huiwen had invested $50 million into artificial intelligence and said he would build China’s OpenAI.

China’s tech giants are showing their ambition to build a Chinese version of ChatGPT with a global footprint amid the artificial intelligence boom. Most recently, as president and CEO of Sinovation Ventures.

The Paper learned from a group of friends of Kai-fu Lee, Chairman and CEO of Sinovation Ventures, that Kai-fu Lee is preparing to launch Project AI 2.0, another new global AI company, in the hopes of “recruiting talents” on a worldwide scale.

In addition to personally preparing to establish a new company, Kai-Fu Lee also said that they are actively looking for investment opportunities related to AI 2.0 technology and application and accelerating the creation of a new business. New business for the ecosystem for AI 2.0.

Li Kaifu said AI 2.0 Project is the seventh company incubated at the top level of Innovation Work, and its goal is not just to create China’s version of ChatGPT.

It was previously reported in February that former Meituan Lianchuang Wang Huiwen had invested $50 million into artificial intelligence, saying he would build China’s OpenAI.

Wang Huiwen personally holds no shares; the funds hold 25% of the shares, and 75% of the shares are used to invite top R&D talents. In the next funding round, top VCs signed up for US$230 million.

AI technology exploded this year when ChatGPT is, a chat robot launched by artificial intelligence company OpenAI in November 2022. In just five days after its launch, the number of registered users exceeded 1 million. Two months after its launch, the number of users surpassed 100 million, making it the fastest-growing consumer app in history.

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