China recorded US$40 billion in venture capital investment deals in 2017, a 14.3% increase from US$35 billion in 2016, buoyed by a flurry of massive investment in artificial intelligence and automobile technologies in the fourth quarter, according to a report by KPMG.
Chinese tech giant Baidu Inc. has established two new labs under its Baidu Research division, as part of its push to strengthen fundamental artificial intelligence (AI) research and development, the company said today.
A research arm of Chinese tech giant Alibaba Group Holding Ltd. has developed a deep learning model that scored higher than human beings on a Stanford University reading-comprehension test, the first time that a machine has outperformed humans on such a test.
Andrew Ng, former chief scientist at Baidu and one of the founders of the Google Brain team, announced one more initiative to launch artificial intelligence company Landing.ai to focus on the application of AI in the manufacturing industry.
Vion Technology Inc., a Chinese artificial intelligence firm specializing in machine vision, has raised a US$20 million series B round from Samsung Electronics, Swiss automation company ABB, Chinese venture firm Tsing Capital and Hong Kong-based investment firm Waterwood.
An artificial intelligence enabled robot has passed the written test of China’s national medical licensing examination for the first time, marking another milestone in the quest for AI technology to match or surpass human intelligence. Named Xiaoyi, the robot developed by Tsinghua University and Chinese information technology firm iFlytek, achieved a score of 456, 96 points higher than the required mark of 360 points, according to a company announcement.
Chinese machine vision start-up Malong Technologies has raised a RMB220 million (US$33 million) series B round from venture capital firm SBCVC.
Chinese venture firm Sinovation Ventures has led a US$20.6 million series B round in Zhuiyi Technology, an artificial intelligence start-up developing chat bots.
DHVC, or Danhua Capital, a California-based venture capital fund founded by Stanford physics professor Shoucheng Zhang, has led a RMB100 million (US$15 million) series B round in Fclassroom, an artificial intelligence-powered education firm in China.
Chinese artificial intelligence-powered translation start-up New Tranx Information Technology (Beijing) Co. has received a RMB50 million (US$7.5 million) pre-A round from Kaitai Capital and Bojiang Capital Management Group.
Chinese artificial intelligence company, iFlytek Co Ltd., best known for its voice-recognition technology, will set up a RMB1.024 billion (US$150 million) fund to support an ecosystem of software and hardware startups across China. The move is part of the company’s push to accelerate the use of AI in consumer electronics, healthcare and other industries. The announcement, made at the company’s first Developer Festival at its Hefei headquarter on October 24, and confirmed via email to China Money Network, comes after …
Ant Financial and Samsung Group have led a US$40 million series A+ round in Beijing-based artificial intelligence start-up DeePhi Tech.
JD Finance, the financial services unit of Chinese e-commerce giant JD.com Inc., has hired Bo Liefeng (pictured), former principal research scientist at Amazon.com Inc., as chief scientist of its artificial intelligence lab.
Beijing-based start-up Yi+, which uses computer vision and artificial intelligence (AI) to provide intelligent media and marketing solutions, has obtained US$15 million in a series B funding round, the firm announced.
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.