June 22, 2024

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Baidu’s AI voice assistant Xiaodu closes funding at $5.1 bln valuation

Males interact with a Baidu AI robot in close proximity to the enterprise logo at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo/File Picture

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

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