Shares of Alibaba trading in New York are higher in premarket after a report from the Chinese news publication Securities Times specified the Chinese tech giant is developing its own artificial intelligence “version of the chat robot ChatGPT.”
Securities Times company news, on February 8, the reporter learned from Alibaba that the Alibaba version of the chat robot ChatGPT is under development and is currently in the internal testing stage. Ali sources said: “If there is more information in the follow-up, it will be synchronized as soon as possible.”
The news of Alibaba’s version of Microsoft-backed ChatGPT — which can write jokes, poetry, and even articles — has been an internet sensation for the last several months.
Shares of Alibaba are up 2.5% on the news.
Reuters asked Alibaba about the newspaper report and how it might integrate the technology with its group’s communication app DingTalk. A spokesperson for the company declined to comment on that.
“Frontier innovations such as large language models and generative AI have been our focussed areas since the formation of DAMO in 2017,” stated the Alibaba spokesperson.
“As a technology leader, we will continue to invest in turning cutting-edge innovations into value-added applications for our customers as well as their end-users through cloud services,” the spokesperson added.
Earlier this week, Bank of America analysts noted that the AI race has been heating up since ChatGPT was launched in November.
“The AI race is clearly on for the tech sector, with multiple new competitive AI products launching and search integration in a short period of time post-ChatGPT’s launch on 11/30/22. Speed may be important for scale as the models are learning models,” the analysts said.
It’s also sparked an AI frenzy as traders pile into AI companies.
And the Securities Times article was published just one day after shares of Baidu jumped 13% in Hong Kong after the company said it would launch its own AI chatbot.
This seems about right.