FT News Briefing AI chatbot race enters crunch phase
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Dec 3, 2025 
Melissa Hakula, the FT's AI correspondent, and Eleanor Alcott, covering China's biopharma sector, delve into fierce competition in the AI chatbot race, highlighting Mistral's innovative models challenging OpenAI. They discuss the implications of OpenAI's 'code red' alert due to emerging rivals and explore the rapid rise of China's biotech industry, driven by government support and efficient clinical trials. The conversation also speculates on whether Chinese biotechs will dominate globally or forge ties with Western companies.
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Farage Expects Pre-Election Conservative Deal
- Nigel Farage told donors he expects a deal or merger between Reform UK and the Conservatives before the next general election.
- Farage also said a deal with the current Conservatives would 'cost us votes', reflecting strategic tensions.
European Models Narrow The AI Gap
- Mistral's new multilingual, multimodal and smaller offline-capable models narrow the gap with US and Chinese AI leaders.
- Melissa Hakula warns this diversifies options and challenges OpenAI's previous moat in chatbot and model dominance.
OpenAI's Lead Is Under Real Threat
- OpenAI's early lead is eroding as rivals like Google's Gemini 3 and Mistral make measurable advances.
- Sam Altman's 'code red' signals pressure to innovate rapidly or lose market and research leadership.