Baidu Inc. said it plans to set up a RMB10 billion (US$1.5 billion) Apollo Fund to invest in 100 autonomous driving projects globally in the next three years, as the Chinese Internet giant continues to push ahead its artificial intelligence strategy.
U.S. President Donald Trump has blocked a Chinese-backed investor from buying American chip maker Lattice Semiconductor Corp., only the fourth time in a quarter century that a U.S.president has banned a foreign takeover of an American firm on national security grounds.
In this episode of China Money Podcast, Gobi Partners managing partner Ken Xu speaks to our host Nina Xiang. Xu discusses what he sees as the next technology frontier markets in China, and how Gobi is investing in the artificial intelligence, Internet of Things (IoT) and new infrastructure-themed industries. You can read a Q&A and watch a short video of the interview. Don’t forget to subscribe to China Money Podcast for free in the iTunes store, or subscribe to …
China and the United States are both artificial intelligence superpowers. But China may soon be the clear leader, at least in terms of AI patents filed. The U.S. currently has more, with 35,508 AI patents, versus 34,345 for China. But as Chinese companies and scientists are filing AI patents at a faster pace, the nation is likely to hold more AI patents than the U.S. by year end, according to a report by Sequoia Capital China and Zhen Fund.
Chinese venture capital firm GSR Ventures and Gobi Partners have joined a RMB35 million (US$5 million) series A round in DeepBrain, a four-month old business providing AI and blockchain-based SaaS solutions to Internet of Things (IoT) hardware manufacturers and app developers.
Seven Seas Partners, a Chinese venture capital firm established by former Tencent Holdings Ltd’s chief technology officer Jeff Xiong, has led a RMB350 million (US$53 million) series B round in Roobo, an artificial intelligence start-up developing home service robots.
Yi+, a Chinese artificial intelligence start-up developing machine vision technology for content marketing, has raised a RMB100 million (US$14 million) series B round from Haitong Securities, financial services company Bairongjun Group and The Bank of Beijing.
Following in the footsteps of the U.K. and U.S., China is applying artificial intelligence technology to airport security. Internet giant Baidu Inc. yesterday singed a strategic cooperation agreement with Beijing Capital International Airport to jointly develop a facial recognition system for verifying the identity of passengers.
Chinese Internet giant Tencent Holdings Ltd. has a reputation for cautiously following in the footsteps of others in new businesses segments, then quietly outsmarting the first-movers. The company looks to be using the same strategy in the field of artificial intelligence (AI). So while rival Baidu Inc. has proclaimed itself an AI company, along with numerous other Chinese companies, Tencent is working behind the scenes to become a leader in the field.
SDIC Chuangye Investment Management, a subsidiary of State Development & Investment Corp, has led a US$100 million series A round in Cambricon Technologies Co., Ltd., an artificial intelligence chip developer.
Chinese artificial intelligence (AI) firm Unisound says it has received RMB300 million (US$45 million) from a strategic investor who besides money will provide the company with massive amount of data to help it improve its capabilities. A company representative did not disclose the identity of the investors and declined to provide more details about the deal when contacted by China Money Network.
IDG Capital and Jingsheng Jiacheng Investment have led a RMB100 million (US$14 million) series B round in Haiyun Data, a Beijing-based start-up providing big data analysis solutions.
There have been a lot of discussions on China’s rising prowess in artificial intelligence, on how the Chinese are catching up or even surpassing the U.S. in leading the world’s most important future technology trend. The concerns are so real that the U.S. government is reportedly looking to strengthen scrutiny of Chinese investments in American AI companies.
Chinese Internet giant Alibaba Group Holding Ltd. and the Government of the Macau Special Administrative Region have entered into a strategic partnership framework agreement, under which Alibaba will support Macau’s implementation of smart city initiatives using cloud computing technologies.
CMC Capital Partners and Wu Capital have jointly led a series C round in Liulishuo worth nearly US$100 million, a Shanghai-based English language learning platform.
Chinese e-commerce leader JD.com Inc will see revenue expand by 1,000%, while its employee head count will fall by one third over the next ten years due to the use of artificial intelligence technology, says company founder and CEO Richard Liu.
It seems that every technology company in China wants to be an artificial intelligence firm. The latest to join the club is Lenovo Group Ltd., until recently the world’s largest personal computer maker.
Chinese angel investor 10Fund has led a series A round worth tens of million RMB in CloudBrain, a U.S. and China-based artificial intelligence cloud start-up, with participation from WI Harper Group.
Chinese e-commerce giant JD.com, Inc. has announced the signing of a strategic memorandum of understanding with Yamato Holdings Co., Ltd., a Japanese logistics company, to build a cold-chain logistics network in China for the delivery of chilled and frozen goods.
Baidu Inc., China’s largest search engine, has signed an agreement with the government of Shanxi province to integrate artificial intelligence into city management. The project, designed to create “smart cities” and help the Northern province upgrade its industrial base, is another step in Baidu’s campaign to position itself as an artificial intelligence company.
Venture Capital firm GGV Capital has led a series A investment round of over RMB100 million (US$14 million) in Bingobox, a Chinese start-up developing fully-automated convenience stores that operate similarly to Amazon Go, a checkout-free grocery store launched by Amazon.
A unit of Chinese conglomerate Fosun Group has led a series A financing round in Westwell Lab, a Shanghai-based artificial intelligence chip maker start-up specialized in Neuromorphic engineering.
JD.com Inc. this weekend launched a robot delivery service at multiple universities across China, as the e-commerce firm continues to invest in the application of technology in its logistics and delivery services.
Element AI, a Canadian artificial intelligence company backed by China’s Tencent Holdings Ltd., has raised US$102 million in new funding from a number of Canadian and Asian funds and investors.
AlphaGo, an artificial intelligence program developed by Google’s DeepMind, yesterday scored its first victory in a three-game match against the world’s top-ranked player, China’s Ke Jie.
Sequoia Capital has led a near US$10 million series A round in VoxelCloud, a Los Angles-based artificial intelligence start-up with two Chinese co-founders providing automated medical image analysis services.
China-focused investment firm Hillhouse Capital Group has led a RMB380 million (US$55 million) series C financing round in Yitu Technology, a Shanghai-based artificial intelligence start-up specialized in the field of machine vision, big data and advanced hardware.
Tencent Youtu Lab, a machine learning-focused artificial intelligence lab operated by Tencent Holdings Ltd., has added Jia Jiaya (pictured), a professor and computer vision scientist at The Chinese University of Hong Kong, to join its team.
China has set up its first national laboratory dedicated to advancing brain-like artificial intelligence technology with the aim of developing world-leading computing paradigms and applications that mimic the human brain’s ability to sort and quantify information.
Robin Li, founder and chief executive officer of Baidu Inc., sent an internal letter to staff yesterday and stressed again the importance of Baidu’s artificial intelligence strategy. He predicted that AI will be the center of the company’s future. Below is a translation of the letter for your enjoyment: Dear Baidu students: Today is the May Fourth, Youth Day. I have one piece of bad news and one piece of good news to tell everyone. The bad news is that, …
Hangzhou-based chip maker Canaan has raised RMB300 million (US$43 million) in a series A round from a number of investors including Chinese hotel operator Jin Jiang International Group Co., Ltd, Chinese investment firms Baopu Asset Management Co. Ltd. and Tunlan Investment.