Chinese tech giant Alibaba working on a ChatGPT rival; shares jump
Chinese e-commerce giant Alibaba
A company spokesperson said the company is working on a ChatGPT-style of technology and it is currently being tested internally at the firm.
Alibaba shares jumped 3% in pre-market trade in the U.S.
The move comes as tech companies globally look to jump on the excitement generated by ChatGPT, an artificial intelligence chatbot created by OpenAI. Users can ask ChatGPT questions on a wide variety of topics, write essays and even generate code.
ChatGPT falls into the category of generative AI, a type of artificial intelligence that can be used to create text or images.
Alibaba said it has been working on generative AI since 2017. The company did not give a timeline for when it could launch its ChatGPT rival.
ChatGPT has sparked somewhat of an AI arms race among the world’s biggest tech players. Microsoftinvested in OpenAI and this week announced an AI-powered Bing search engine and Edge browser, which will be underpinned by ChatGPT technology.
Also this week, Googleartificial intelligence chatbot technology called Bard, as part of a “code red” plan to respond to the challenge posed by ChatGPT.
Chinese search giant Baidusent shares skyrocketing, highlighting investor excitement over the technology.
Alibaba, one of China’s biggest cloud computing players and the country’s biggest e-commerce company, hinted that its own chatbot could be integrated into its products.
“As a technology leader, we will continue to invest in turning cutting-edge innovations into value-added applications for our customers as well as their end-users through cloud services,” an Alibaba spokesperson told CNBC.