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

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.