Stocks surged the most intraday in two months.
Once rumors increased that China’s most valuable AI startup is getting ready to introduce a challenger to ChatGPT, the artificial intelligence craze, Sense Time Groups Inc. experienced its highest intraday increase in two months.
With news that Sense will offer a sizable AI model the next week, joining developer firms attempting to compete with OpenAI, shares increased 18% on Tuesday.
The Global Race to Deploy Large New AI Models
According to Marley Ngan, an analyst at CMB International, “Sense is set to introduce a big model next week, on April 10, that will probably include AI-generated material.”
Sense Time, based in Shanghai and best known as a pioneer in AI-driven computer vision, is joining the competition to establish itself as the industry leader in generative AI.
Baidu Inc. is in charge of the competition in China and has submitted its proposal, known as Ernie Bot.