01.AI, a Chinese AI startup founded by AI pioneer Kai-fu Lee, has achieved a $1 billion valuation, earning unicorn status in less than eight months, according to a Monday report by local outlet 36Kr. The company reached this valuation after concluding a new funding round led by Alibaba’s cloud division. On Monday, http://01.AI01.AI> also unveiled its first open-source bilingual large model “Yi,” featuring a 200K context window. It claims to process around 400,000 words of text in a single prompt, outperforming OpenAI’s improved model version GPT-4 Turbo, launched on the same day, which can handle up to 128K tokens of context. Yi, the foundation model of http://01.AI01.AI>, is available in Chinese and English in two versions, each equipped with six billion and 34 billion parameters. Lee noted that his company has initiated the training of the next model with a hundred billion parameters, as reported by 36Kr. [36Kr, in Chinese]