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Baichuan AI, Backed by BABA, TENCENT, XIAOMI, Completes RMB5B Fundraising in Series A
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Baichuan AI raised RMB5 billion in its recent Series A financing round. Investors included BABA-SW (09988.HK), TENCENT (00700.HK), XIAOMI-W (01810.HK) and CICC (03908.HK), as well as state-owned industrial investment funds, such as the Beijing Artificial Intelligence Industry Investment Fund, Shanghai Artificial Intelligence Industry Investment Fund and Shenzhen Capital Group. Baichuan AI said it will launch a Series B financing round with a valuation of RMB20 billion. Baichuan AI was established last year by Wang Xiaochuan, founder of Sogou, with the goal of establishing a Chinese version of OpenAI. AAStocks Financial News |
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