Cambricon Technologies announced today that it has secured hundreds of million dollars in its Series B funding round, with investments from China’s State-owned Capital Venture, SDIC Venture Capital, China Capital Investment Group, TCL Capital, CITIC Securities, Alibaba VC, Lenovo Capital & Incubator Group and others.
Suzhou-based Ecovacs Robotics debuted on the Shanghai Stock Exchange today. The floor sweeping and window cleaning robot company issued 40.1 million shares at US $3.13 per share, and plans to use the funds raised via its IPO to produce four million home service robots, build an IoT ecosystem, and expand into the global market.
A phrase that’s cropping up a lot in Chinese media these days is “National AI Team (人工智能国家队).” While this may suggest a squad of scientists heading off to some sort of AI Olympics, it rather refers to a new class of AI companies that are either backed by national institutes or closely integrated into government-funded programs.
Chinese State media People’s Daily recently reported the country is facing a shortage of five million AI talents.
A separate LinkedIn survey revealed that while there are some 1.9 million AI engineers worldwide, about one million reside in the US while China is home to just 50,000.
Hikvision AI Cloud is a distributed structure incorporating cloud computing and edge computing. Launched last year, it can extend an AI algorithm from the cloud centre to an edge network of on-premises video recorders and servers, and further to edge devices, such as security cameras.
According to a China Securities Journal report, the China International Capital Corporation (CICC) and China’s largest food processor, manufacturer and trader China National Cereals, Oils and Foodstuffs Corporation (COFCO) are looking to invest US$2 billion (CNY 13 billion) in JD Finance, the fintech spinoff of online retailer JD.com.
I purchased a Tmall Genie X1 — Alibaba’s flagship smart speaker — at the discounted price of US$15 during China’s November 11 “Singles Day” shopping festival. I was given order number 560,000-ish, and received the product a month later. The speaker is regularly priced at US$79, about the same as its American counterpart Google Mini.
Chinese media is reporting that several domestic brokers and investment banks were recently informed by the China Securities Regulatory Commission (CSRC) that it will relax regulations on prospectus approval time and profitability minimums for Chinese unicorns in the domains of artificial intelligence, cloud computing, biotech, and high-end manufacturing.
The Massachusetts Institute of Technology (MIT) and Chinese AI Unicorn SenseTime today announced the MIT-SenseTime Alliance on Artificial Intelligence, a partnership the duo says “aims to open up new avenues of discovery across MIT in areas such as computer vision, human-intelligence-inspired algorithms, medical imaging, and robotics.”