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AI Startup Baichuan raises $300 mln

Alibaba and Tencent Were Big Name Investors for the Chinese Firm

“Chinese artificial intelligence (AI) startup Baichuan has raised $300 million from investors including Chinese tech giants Alibaba (9988.HK) and Tencent (0700.HK), it said on Tuesday.

The company said on its WeChat account that the round followed an early $50 million angel round. The investors include smartphone maker Xiaomi (1810.HK) and other investment firms, it added.”