This week, OpenAI released its latest AI video generation model, Sora 2, advertising it as a "big leap forward" for the space. As Sora hits the public, it will have to compete for market share in a crowded market, including with a major competitor that is rapidly gaining steam: the Chinese company ByteDance, which owns TikTok .

In the past few months, ByteDance released Seedance, an AI video generator that many users are already calling the best in the world, and a new version of Seedream, an elite image model. Its LLM, Doubao, has 150 million monthly active users, according to website analytics site Aicpb.com .

ByteDance's AI advancements are a prime example of how Chinese AI companies are quickly catching up to American ones, despite chip export controls. Because their models

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