Chinese tech companies remain buoyant
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After the well-known Chinese e-commerce company 'Alibaba Group' announced its new AI model, the company's share price increased significantly on Thursday. As Alibaba released the 'QW Q-32B' model, the company's share price in Hong Kong rose by 8 percent to 140.5 Hong Kong dollars per share. Alibaba's AI model has further expanded the enthusiasm of Chinese technology companies that has awakened with the rise of Dipsic.
According to Alibaba, QWQ-32B model is as powerful as Dipsic's R-One model in terms of performance. The company said that it was built with less energy and cost than Dipsic. Like Dipsik, it is also an open source project, meaning its source code has been made public. Most big tech companies don't make their source code public .
Alibaba's share price in Hong Kong and cross-listing price in New York have increased by about 70 percent so far this year, according to Business Insider. Now the market value of the company is 317.7 billion dollars. Last month, the company's share price rose after the news that Alibaba was collaborating with the American company Apple to add AI features to Chinese iPhones. Later, both companies confirmed that the news was correct.
Similarly, Alibaba's share price increased even after Chinese President Xi Jinping met with the country's biggest technology entrepreneurs. Xi met with tech entrepreneurs including Alibaba founder Jack Ma, Tencent CEO Pony Ma and electric car maker BYD CEO Wang Chuanfu. .
In recent years, Chinese technology companies, which have slowed down due to strict government surveillance, have started to revive . The arrival of Dipsik has awakened new hope in the Chinese technology market. After Xi met with the technology entrepreneur, there were signs that the government was interested in revitalizing the sector .
Alibaba has announced that it will invest at least 380 billion Chinese yuan ($53 billion) in cloud computing and AI infrastructure over the next three years. Dipsic's success has spurred massive investment in cloud technology in China.
Last month, Goldman Sachs analysts said that the Dipsic R-One model will change the landscape of the Chinese technology sector. Alibaba has claimed that its AI model has five times fewer parameters than Dipsic and will provide effective results by consuming very little energy. There are 671 billion parameters in Dipsic and 32 billion parameters in Alibaba's model. This technology was created by Alibaba's AI unit called Quen .
Alibaba has released its new AI model the day after the Chinese government expressed its commitment to provide more support to industries that provide AI, humanoid robots and SixG telecommunication services. In China, such AI models have been increasingly used in various government agencies and even small companies.
