Alibaba to invest $700 million in third AI startup
Alibaba is investing 5 billion yuan ($691 million) in Chinese startup Baichuan. This is Alibaba’s third major AI deal this year. Baichuan is now valued at 20 billion yuan ($2.8 billion) thanks to funding from the governments of Beijing, Shanghai and Shenzhen, as well as investors Tencent and Xiaomi. Baichuan was founded in April 2023….
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