01/06/2023 06:44 PM | Click to read full article
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.