HONG KONG, Feb 27 (Reuters) - Chinese internet giant Tencent Holdings (0700.HK) has set up a development team to work on a ChatGPT-like chatbot, two people familiar with the matter told Reuters. ChatGPT's uncanny ability to create cogent blocks of text instantly has sparked worldwide frenzied interest in the technology behind it called generative AI. Although Microsoft-backed OpenAI does not allow users in China to create accounts to access the chatbot, the open AI models behind the programme are relatively accessible and are increasingly being incorporated into Chinese consumer technology applications. A number of Tencent rivals including Alibaba Group (9988.HK) and Baidu Inc (9888.HK) have also announced they are working on their own offerings. Tencent's product, to be called "HunyuanAide", will incorporate the company's AI training model named "Hunyuan", said the people who were not authorised to speak to media and declined to be identified.