Giant models grab headlines, but some Chinese start-ups bet on smaller phone-ready AI

A growing number of tech firms are pivoting to lightweight models designed to run entirely on smartphones and laptops Proponents said this localised approach would be a game-changer, promising faster processing, enhanced data privacy and lower operating costs. Investors are buying in. Beijing-based ModelBest, a prominent player in on-device AI, raised more than 5 billion yuan (US$738 million) this year, according to a WeChat post by investor Shanghai Mejoy Capital. ModelBest’s latest C+ Series funding round, completed earlier this week, propelled the firm’s valuation to 20 billion yuan, according to the post. The start-up did not disclose the size of its latest funding round and did not immediately respond to a request for comment on Thursday. The funding milestone comes amid a flurry of activity in China’s so-called local AI or edge AI sector.

Read the full article at the source →