Despite global frenzy, investor enthusiasm in China’s AI startups wanes


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In 2023, the global frenzy around artificial intelligence, fueled by the advent of ChatGPT, swept across the world. In China, where OpenAI’s chatbot is unavailable, startups and tech incumbents scrambled to develop their own AI models and applications, drawing upon the foundational pieces of the American upstart. Individual AI fans accessed ChatGPT through a web of black market vendors, keeping their accounts alive through often unauthorized virtual private networks. At a glance, generative AI is in full bloom in China, but a closer look suggests otherwise. Despite the hype, venture capitalists haven’t been as enthusiastic about the nascent technology as...