According to reports, 01.AI, an AI company founded by Li Kaifu, Chairman and CEO of Innovation Works, has released its first open-source bilingual model, Yi. 01.AI has completed a new round of financing led by Aliyun. Currently, the valuation of 01.AI has exceeded US$1 billion, making it a unicorn company. On November 2, Yi quietly uploaded two basic models with parameter scales of 6B and 34B on the Hugging Face platform. As of November 5, Yi-34B has climbed to the top of the Hugging Face LLM Leaderboard (pretrained) and the C-Eval Chinese model list. Yi currently has a context window of around 200K and can process about 400,000 words of text, which is currently the longest context window among large models worldwide. At the same time, through the polishing of AIInfra, the training cost of Yi-34B has been reduced by 40%. Due to the low quality of Chinese language materials, the proportion of English and Chinese language materials in Yi's training data is currently higher than that of Chinese language materials.