Artificial Intelligence
Alibaba joins AI arms race in leading $1 billion Moonshot funding round
The Chinese e-commerce giant led the historic funding round which has boosted Moonshot AI’s valuation to $2.5 billion
Alibaba has stepped up its bet on artificial intelligence with a huge financing round for a Chinese AI start-up, as the e-commerce giant chases new growth prospects.
The online marketplace 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, people familiar with the deal said.
They joined previous backers including the investment arm of food delivery giant Meituan and Hongshan, ...
