Research firm Canalys expects that 5% of smartphones shipped globally in 2024, or 60 million smartphones will be AI-capable

China's Alibaba and Tencent have reportedly told Nvidia that they will be switching to domestic firms such as Huawei for some advanced chip orders

The milestone comes just three months after the chatbot was opened to the public following months of trials and scrutiny from Beijing

China's largest search engine saw third-quarter revenue of $4.72 billion as advertisers responded to recent green shoots of recovery

Tencent is the second large Chinese technology company to look for domestic alternatives to Nvidia amid tightening US sanctions

Chinese tech firms have historically relied on sector leader Nvidia but Washington’s tech curbs have prompted a shift away from the US firm

Chinese tech giants, including Alibaba, ByteDance and Baidu, had placed orders worth billions for 2024 and Nvidia had planned to deliver some of them by mid-November

Baidu, which owns China's largest internet search engine, is at the forefront of the country’s AI model development

Beijing is encouraging Chinese companies in the sector to form "innovation consortia” and share tech advances

China's leading online search provider was among five outfits allowed to release their AI bots to the public, sending tech shares upwards

Regulators say the measures will not apply to firms who don't intend to offer their generative AI services to the Chinese public to encourage development of the technology

The Beijing-based search engine giant says its AI chatbot, Ernie 3.5, beat OpenAI’s market leader in several key metrics