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Shanghai tech firms ride AI wave to revenue growth, global expansion

FinVolution's international business contributed 21.4 percent of its total revenue in the quarter. Powered by AI, it acquired 2.2 million new borrowers outside of China, with a 61 percent year-on-year increase.
The article from Shine.cn discusses the increasing trend of Chinese companies investing in and developing large language models (LLMs) similar to ChatGPT. It highlights that over 130 LLMs have been released in China, with companies like Baidu, Alibaba, and Tencent leading the charge. These models are being integrated into various applications, from search engines to enterprise solutions, aiming to enhance AI capabilities in understanding and generating human-like text. The article also touches on the regulatory environment, noting that while there are concerns about data security and misinformation, the Chinese government has been supportive of AI development, with new guidelines expected to encourage innovation while managing risks. This surge in AI development is seen as part of China's broader strategy to become a global leader in AI technology.

Read the Full SHINE Article at:
[ https://www.shine.cn/biz/tech/2503194547/ ]


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