Market Chatter: Shanghai-Based AI Startup Secures 5 Billion Yuan in Series A Round

MT Newswires Live07-26

Shanghai-based AI startup Baichuan Intelligent Technology secured 5 billion yuan in a Series A financial round, Yicai reported on Thursday.

Several top-level investors including tech giants like Alibaba Group Holding (HKG:9988), Tencent Holdings (HKG:0700), and Xiaomi (HKG:1810) took part in a series A1 financing round in October, tech information website 36Kr reported.

Baichuan's valuation reached 20 billion yuan after completing the Series A financing round. Wang Xiaochuan and Ru Liyun established the company on April 10 last year and has launched 12 AI models, Yicai added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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