Chinese AI startup 01.AI, led by Kai-Fu Lee, has achieved a $1 billion valuation in under eight months. The company’s open-source AI model, Yi-34B, outperforms larger models like Meta’s Llama2-70B and Falcon-180B, thanks to high-quality data used in training. The models are available for non-commercial and research purposes under the Apache 2.0 license. Lee aims to compete with OpenAI’s GPT-4 with 01.AI’s next model.
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