Earnings

IQiyi posts first year of profits, says it’s ‘excited’ about Sora-like AI

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A view of iQiyi’s website featuring a variety TV show, taken on Tuesday, Aug. 22, 2023.

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BEIJING — Chinese video content and streaming company iQiyi CFO Wang Jun said he is “excited” about potential new business opportunities with the emergence of OpenAI’s text-to-video tool Sora.

Speaking exclusively to CNBC on Thursday, Wang said such tools can help iQiyi tell stories more creatively, and that internally, it is exploring the text-to-video space though it is not working with Sora.

But Wang indicated the tech’s capabilities aren’t yet necessarily able to offer people what they want. “We are waiting for the moment,” he said.

OpenAI, the creator of…



Source cnbc.com

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