Caixin
Apr 09, 2018 03:52 PM
BUSINESS & TECH

Alibaba-Led Group Injects $600 Million Into AI Specialist SenseTime

The development of artificial intelligence, such as the facial recognition software unveiled in Xi'an's Xianyang International Airport on Feb. 12 (pictured), is a significant part of China's strategy to upgrade its economy. Photo: VCG
The development of artificial intelligence, such as the facial recognition software unveiled in Xi'an's Xianyang International Airport on Feb. 12 (pictured), is a significant part of China's strategy to upgrade its economy. Photo: VCG

Artificial intelligence (AI) company SenseTime said on Monday it has raised $600 million from a group led by e-commerce giant Alibaba, bringing its total funds raised to more than $1 billion as it cashes in on surging demand for its services.

Other members in the company’s third funding round include Singaporean sovereign wealth fund Temasek and Chinese retailing giant Suning, SenseTime said in a statement. SenseTime operates a supercomputing platform that lets users build models using hundreds of billions of parameters.

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