Summary:
01.AI denies rumors of asset sale to Alibaba Cloud, calling it slander.
The startup is valued at over US$1 billion and reported revenue of 100 million yuan in 2024.
Lee Kai-fu emphasizes a focus on AI applications in 2025, anticipating significant growth.
In a recent WeChat post, the Beijing-based startup 01.AI firmly rejected claims of planning to sell its pre-training team and other vital assets to Alibaba Cloud, labeling the rumors as 'vicious slander.' This assertion comes amidst discussions about the company's financial challenges.
Background on 01.AI
Founded by Lee Kai-fu, who also chairs Sinovation Ventures and previously held the position of president at Google China, 01.AI achieved a valuation exceeding US$1 billion in 2023 following a successful funding round that included Alibaba Cloud as an investor. The company reported a revenue of over 100 million yuan (approximately US$13.7 million) in 2024, with expectations for growth this year.
Future Plans
Lee announced that 01.AI will focus on AI applications in 2025, anticipating a period of explosive growth amid fierce competition within the AI sector in China.
Neither 01.AI nor Alibaba Cloud has responded to media inquiries regarding these rumors as of Tuesday.
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