When Beijing-based AI firm Zhipu released its open-source General Language Model (GLM) and it began competing with Anthropic’s Claude and OpenAI’s ChatGPT at a fraction of the price, a familiar question resurfaced. Are we watching a new kind of intelligence, or a very old story? Solar panels and electric vehicles are among the numerous Western inventions that China turned into cheap, plentiful goods, until their inventors could barely profit from them.
For American and European tech firms, like Microsoft or NVIDIA, the precedent is uncomfortable. Their stock market valuations rest on an assumption of scarcity: capable models being rare, costly and controlled by whoever trained them gives them an edge; a competitive advantage they can capitalise on financially.
