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Chinese AI start-up Baichuan raises US$700 million from Alibaba, Tencent, Xiaomi

The Beijing-based company is now worth more than US$2.7 billion, behind only fellow ‘AI tiger’ Moonshot AI, as US capital remains sparse in the domestic industry.

By: scmp.com

Jul 25 2024
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Chinese AI start-up Baichuan raises US$700 million from Alibaba, Tencent, Xiaomi

The Beijing-based company is now worth more than US$2.7 billion, behind only fellow ‘AI tiger’ Moonshot AI, as US capital remains sparse in the domestic industry.

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New Foxconn deal shows how Chinese provinces are stepping up to entice overseas firms