Tech
tech
Jon Keegan

Ant Group boasts of breakthrough with new fast, cheap Chinese AI models

Ant Group, a digital payments company backed by Alibaba’s Jack Ma, just released two new AI models: Ling-Plus and Ling-Lite.

The models use a similar “mixture-of-experts” technique, like DeepSeek’s R1 models.

But the significant breakthrough is that these models were trained on Chinese-produced chips from Alibaba and Huawei Technologies. Most of the AI world has been using Nvidia’s GPUs for training, but tight US export controls have kept the most powerful chips out of the hands of Chinese AI companies (though some do still slip through).

Ant says its models match or beat leading models from DeepSeek, Mistral, and Meta’s Llama 3.1. This is another boon for China’s global AI ambitions, as it shows that its scrappy AI developers can innovate around attempts by the US to hamstring their progress in the field.

These models were trained for about $880,000, according to Ant, and “improve the efficiency and accessibility of AI development in resource-constrained settings,” its research paper says.

But the significant breakthrough is that these models were trained on Chinese-produced chips from Alibaba and Huawei Technologies. Most of the AI world has been using Nvidia’s GPUs for training, but tight US export controls have kept the most powerful chips out of the hands of Chinese AI companies (though some do still slip through).

Ant says its models match or beat leading models from DeepSeek, Mistral, and Meta’s Llama 3.1. This is another boon for China’s global AI ambitions, as it shows that its scrappy AI developers can innovate around attempts by the US to hamstring their progress in the field.

These models were trained for about $880,000, according to Ant, and “improve the efficiency and accessibility of AI development in resource-constrained settings,” its research paper says.

More Tech

See all Tech
tech
Nate Becker

Tesla CEO Elon Musk wins appeal for his 2018 pay package

Tesla CEO Elon Musk has won an appeal to the Delaware Supreme Court, restoring his 2018 pay package that was worth $56 billion at the time but has since ballooned in value, Reuters reports.

Two years ago, a lower court had struck down the compensation deal, calling it “unfathomable,” and Musk has been fighting for it since then.

Of course, Musk was recently awarded an even bigger pay package that could potentially award him $1 trillion over time. Tesla shares were recently up 0.5% in after-hours trading.

Of course, Musk was recently awarded an even bigger pay package that could potentially award him $1 trillion over time. Tesla shares were recently up 0.5% in after-hours trading.

tech
Jon Keegan

OpenAI’s reported fundraising valuation keeps jumping by hundreds of billions of dollars

OpenAI is reportedly in talks to raise as much as $100 billion, with a valuation of....$500 billion...$750 billion $830 billion?

This is getting ridiculous. This week we have read multiple reports that OpenAI is in early discussions with potential investors about a significant fundraising round of up to $100 billion, to help cover its cloud computing costs.

  • On Tuesday, The Information reported a major $10 billion investment from Amazon in OpenAI, with a valuation higher than $500 billion

  • On Wednesday, The Information reported that the $100 billion round would give OpenAI a valuation of $750 billion

  • Today, the Wall Street Journal is reporting that the $100 billion round would give OpenAI a valuation of as much as $830 billion

The spread from $500 billion to $830 billion is pretty wild, and we are wondering what it might be by next week.

  • On Tuesday, The Information reported a major $10 billion investment from Amazon in OpenAI, with a valuation higher than $500 billion

  • On Wednesday, The Information reported that the $100 billion round would give OpenAI a valuation of $750 billion

  • Today, the Wall Street Journal is reporting that the $100 billion round would give OpenAI a valuation of as much as $830 billion

The spread from $500 billion to $830 billion is pretty wild, and we are wondering what it might be by next week.

tech
Jon Keegan

Report: OpenAI in early talks for new fundraising round with $750 billion valuation

Just yesterday, we were reading about how Amazon was in talks to invest as much as $10 billion in OpenAI, with an eye-popping valuation of more than $500 billion. But those numbers might already be old.

A new report by The Information says that OpenAI is in early talks to raise as much as $100 billion, with a $750 billion valuation.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.