China Tech Digest: Chinese AI Unicorn Fourth Paradigm Files For HK IPO; Baidu-backed Open Source Vehicle-Road Collaboration Dataset Released

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Chinese AI unicorn Fourth Paradigm files for HK IPO

Beijing-based Fourth Paradigm Technology has filed for initial public offering in Hong Kong, with Goldman Sachs and CICC as the joint sponsors. Fourth Paradigm is a Chinese AI software company focused on providing platform-centric AI software that enables enterprises to develop their own decision-making AI applications. The company was founded by China’s first ACM world champion Dai Wenyuan and backed by Tencent and Sequoia Capital. Its shareholders and customers gathered Chinese large state-owned banks, and has raised RMB6.6 billion in seven years since establishment.

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