The viral popularity of ChatGPT has stirred a frenzy within China where tech companies, battered by a two-year regulatory clampdown and the Covid-19 pandemic, have been seeking new sources of growth.
Search engine owner Baidu Inc., e-commerce giant Alibaba Group Holding Ltd. and social-media conglomerate Tencent Holdings Ltd. are among those that have announced investments to develop their own equivalents to the artificial-intelligence chatbot, which isn’t available in China. Stocks of other Chinese companies have surged in recent weeks as they have jumped on the bandwagon, triggering state media to issue a warning about the speculative rally.
The viral popularity of ChatGPT has stirred a frenzy within China where tech companies, battered by a two-year regulatory clampdown and the Covid-19 pandemic, have been seeking new sources of growth.
Search engine owner Baidu Inc., e-commerce giant Alibaba Group Holding Ltd. and social-media conglomerate Tencent Holdings Ltd. are among those that have announced investments to develop their own equivalents to the artificial-intelligence chatbot, which isn’t available in China. Stocks of other Chinese companies have surged in recent weeks as they have jumped on the bandwagon, triggering state media to issue a warning about the speculative rally.