TNB Tech Minute: China’s Baidu Releases an AI Model to Challenge DeepSeek
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Here's your TNB Tech Minute for Monday, March 17th. I'm Victoria Craig for The Wall Street Journal. Chinese tech giant Baidu has launched a new AI model that it says can do the same thing as its rival DeepSeeks at half the price. Baidu says its model, Ernie X1, can complete advanced searches, generate AI images, and read web pages at a performance level on par with DeepSeeks AI.

DeepSeek created a market frenzy earlier this year after it claimed its AI model could perform on par with an open AI chat GPT model. Baidu will use its new AI model and other technologies in its consumer products, including its AI chatbot, which it made free to use earlier than scheduled.

Staying in the world of artificial intelligence, Elon Musk's XAI, which has spent years trying to catch up to OpenAI, is buying a four-person startup called Hotshot.co. The New York-based company allows users to make lifelike AI-generated videos. The acquisition allows Musk's company to integrate video into its Grok chatbot, which is embedded in X.

Elsewhere, Stockholm-based Klarna has replaced U.S. rival Affirm as Walmart's exclusive Buy Now, Pay Later provider. Klarna will work with Walmart-backed OnePay, a consumer finance app, to offer installment loans ranging from three to 36 months. Customers will also maintain the ability to link payment cards to the app for contactless purchases and get cash back on the things they buy.

Working with Walmart could be a win for Klarna, which last week filed to go public on the New York Stock Exchange, although pricing hasn't been offered yet.

For a deeper dive into what's happening in tech, check out tomorrow's Tech News Briefing podcast. KPMG makes the difference by creating value, like developing strategic insights that help drive M&A success and embedding AI solutions into your business to sustain competitive advantage, or deploying tech-enabled audits to deliver more accurate and transparent outcomes. KPMG drives brighter insights, bolder solutions, better outcomes.

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