Baidu joins the global wave of generative AI investment.
Baidu Inc. has joined the worldwide investment trend by allocating 1 billion yuan ($140 million) to support Chinese firms researching generative AI.
With deployments of up to 10 million yuan apiece, the market leader in Chinese Internet search will use the pool to incubate ideas based on Ernie’s AI model.
Venture investors will accept and evaluate proposals from the founders.
The founders’ submissions will be accepted and considered by VCs, after which the founders will develop demo products and wait for a seed capital approval decision.
Under the guise of Ernie Bot, Baidu introduced ChatGPT to the nation’s first significant retaliation, sparking a race of rivals from Alibaba Group Holding Ltd. to Tencent Holding Ltd.
The ideas of potential founders who would use Ernie Bot to create their services will be investigated by Baidu and its venture capital partners.