Aug 24 (Reuters) – Chinese tech large Baidu Inc (9888.HK) mentioned on Tuesday its synthetic intelligence (AI) voice assistant Xiaodu Technological know-how has shut Sequence B financing at a $5.1 billion valuation.
This arrives in the midst of a regulatory crackdown on the tech sector by the Chinese authorities that has led to an upheaval in several sectors which include as e-commerce, trip-hailing and cryptocurrency. examine extra
Xiaodu is the developer of DuerOS, a voice assistant method dependent on AI that supports tv, speakers and other smart property appliances. It completed its Collection A funding in November 2020 at a post-cash valuation of $2.9 billion, said Baidu.
Previously in March, Baidu said that its AI chip unit Kunlun also finished a round of fundraising, which in accordance to 1 supply with direct expertise of the make any difference valued the business at about $2 billion. (https://reut.rs/3D9Xcbo)
Baidu said on Tuesday that after the transaction it would keep on being a vast majority shareholder.
Reporting by Tiyashi Datta in Bengaluru Enhancing by Rashmi Aich
Our Standards: The Thomson Reuters Belief Principles.
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