China’s AI progress "amazingly fast," says Altman

Investing.com -- OpenAI CEO Sam Altman described the progress of Chinese technology companies as "amazingly fast" and "remarkable" across the entire tech stack in recent comments to CNBC.

Altman noted that in some areas, Chinese tech companies are approaching the technological frontier, while in others they still lag behind. His observations come as China and the United States compete to develop artificial general intelligence (AGI) - AI systems that match human capabilities.

China is working to scale up domestic chipmakers that could eventually compete with companies like Nvidia, while Chinese AI companies are experiencing significant stock rallies as investors buy up their stakes.

Meanwhile, OpenAI is developing new revenue streams as it seeks a path to profitability for investors who have invested approximately $70 billion in the company, according to deal-counting platform Dealroom. The company is reportedly finalizing a $100 billion fundraising round, CNBC said earlier.

Advertising within ChatGPT is one revenue avenue OpenAI is exploring. Altman indicated that the company is still determining the optimal ad format, with plans in early stages.

"The ads that I have personally liked the most in recent years from tech companies have been sort of Instagram style ads where you discover something new that you might really like and otherwise wouldn't have known about," Altman said. "I think we've got a real opportunity to push in that direction with ads in ChatGPT."

Altman added that the company is currently experiencing extremely rapid growth and will focus on accelerating that growth while maintaining reasonable unit economics, with profitability coming "when we think it makes sense."

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