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Alibaba leads record deal to create $3.4 billion China AI firm

Summary by Ground News
Alibaba joins Tencent Holdings Ltd. and Silicon Valley peers like Microsoft Corp. in placing big bets on generative AI. It led a $1 billion funding round in Moonshot AI with existing backer Monolith Management, boosting the year-old firm's valuation eight-fold to some $2.5 billion.

3 Articles

The Straits TimesThe Straits Times
Reposted by
Time MagazineTime Magazine
Lean Right

Alibaba leads record deal to create $3.4 billion China AI firm

Alibaba recently led a US$1 billion funding round in Moonshot AI. Read more at straitstimes.com.

·Singapore
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BloombergBloomberg
Lean Left

Alibaba Leads Record Deal to Create $2.5 Billion China AI Firm

Alibaba Group Holding Ltd. led the largest single financing round for a Chinese artificial intelligence startup, the latest in a string of sizeable investments that suggest the e-commerce firm is again deploying capital in the hunt for growth.

·United States
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Bloomberg broke the news in United States on Tuesday, February 27, 2024.
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