Money is no object as investors swept by AI frenzy in ChinaIn the past three months, over 30 Chinese entities said they are developing their own large…

In February, shortly after OpenAI’s ChatGPT took the tech world by storm, a series of posts by high-profile Chinese entrepreneur Wang Huiwen went viral on social media.

“I am investing $50 million. Please team up with me to embrace the new era and create China’s OpenAI. I currently do not understand AI technology but I am working hard to learn,” Wang, the co-founder of food delivery platform Meituan, said in one of the posts.

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