Kuaishou, the Chinese short-video app that’s the biggest domestic rival to ByteDance, has gained approval for a Hong Kong initial public offering that could raise as much $6 billion. The listing offers a preview of investor appetite for the eventual listing of its larger rival, ByteDance, owner of TikTok. Kuaishou’s biggest investor is Chinese games and social network giant Tencent, which...
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How Microsoft is Trying to Lessen Its Addiction to OpenAI as AI Costs Soar
Microsoft’s push to put artificial intelligence into its software has hinged almost entirely on OpenAI, the startup Microsoft funded in exchange for the right to use its cutting-edge technology. But as the costs of running advanced AI models rise, Microsoft researchers and product teams are working on a plan B. In recent weeks, Peter Lee, who oversees Microsoft’s 1,500 AI...
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