Chinese AI startup Baichuan recently announced that it successfully raised $300 million in funding, with prominent investors such as Alibaba and Tencent contributing to the round. This investment comes after an initial angel round of $50 million .

‍

The Chinese AI industry has been abuzz with product developments and fundraising activities, as companies aim to compete with OpenAI's ChatGPT. However, investors have expressed concerns about the growing cost and profit pressures in the sector. Baichuan was among the first to receive approval in China for its public chatbot release.

‍