News > Chinese tech giant Baidu is now rolling out an AI venture fund

Chinese tech giant Baidu is now rolling out an AI venture fund

Chinese search giant Baidu plans to establish a $145 million venture fund to support AI content generation start-ups. It will also launch a competition for developers using its ERNIE large language model (LLM). Baidu's move follows OpenAI's creation of a $175 million startup fund in 2021. Baidu's founder recently announced the upcoming launch of an updated large-language model, similar to its ChatGPT-like service, Ernie Bot.