Chinese startup 01.AI, launched in March 2023 by computer scientist Kai-Fu Lee, reaches a $1B+ valuation and releases its AI model Yi-34B in Chinese and English (Bloomberg)

Bloomberg:

Chinese startup 01.AI, launched in March 2023 by computer scientist Kai-Fu Lee, reaches a $1B+ valuation and releases its AI model Yi-34B in Chinese and English  —  – 01.AI’s model outperforms Meta’s Llama 2 on certain metrics  — Startup to offer open-source model; proprietary options later