China's top tech firms, including Alibaba, Tencent, Baidu, NetEase, and JD.com, are developing their own versions of Open AI's AI-powered chatbot, ChatGPT

This comes after ChatGPT, backed by Microsoft, became the fastest-growing consumer app in history since its launch in November.

The competition in AI technology has geopolitical implications as it is one of the most highly contested fields in the US-China tech rivalry.

Baidu's shares rose to an 11-month high after announcing plans to launch its ChatGPT-style chatbot, "Ernie Bot."

Alibaba is also internally testing its own ChatGPT-style tool. Tencent confirmed plans to develop its own ChatGPT-style AI-generated content.

JD.com plans to integrate AI-related technologies such as natural language processing into its services, while NetEase is researching the integration of AI-generated content into its education unit.