Alibaba Stock: UniPat AI with 2.5 Billion Valuation
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Alibaba is accelerating its Artificial Intelligence (AI) strategy through a new major investment. According to a Bloomberg report yesterday, the Chinese technology group is set to lead a 300 million US dollar funding round for the startup UniPat AI. The valuation of the company, which specializes in benchmarking and stress testing AI models, is estimated at around 2.5 billion US dollars. Tencent and HSG, formerly Sequoia China, are also reportedly participating in the planned financing for UniPat AI. According to Bloomberg, the deal is imminent, although negotiations are still ongoing and final terms could shift. UniPat is considered a strategically important target, as the verification of AI models for industrial application is becoming increasingly important. Alibaba Stock: Buy or Sell? Read more here ...At the same time, Alibaba is coming under the scrutiny of the US government. On Wednesday, news agencies Bloomberg and Reuters reported allegations from Washington that Alibaba and other Chinese technology companies are extensively extracting or "destilling" top US models. This is reportedly an attempt to close the technological gap with American AI developments. These allegations are straining the already tense trade relations in the high-tech sector.The new investment plans are linked to a massive capital raise. On August 26, Alibaba completed the placement of 710...
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