FILE Photo: Adult men interact with a Baidu AI robot around the enterprise logo at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo/File Photograph
August 24, 2021
(Reuters) – Chinese tech huge Baidu Inc explained 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 market by the Chinese authorities that has led to an upheaval in numerous sectors such as as e-commerce, trip-hailing and cryptocurrency.
Xiaodu is the developer of DuerOS, a voice assistant procedure primarily based on AI that supports television, speakers and other clever property appliances. It finished its Series A funding in November 2020 at a submit-income valuation of $2.9 billion, explained Baidu.
Previously in March, Baidu mentioned that its AI chip unit Kunlun also accomplished a round of fundraising, which in accordance to 1 source with direct information of the matter valued the company at about $2 billion. (https://reut.rs/3D9Xcbo)
Baidu stated on Tuesday that after the transaction it would continue to be a greater part shareholder.
(Reporting by Tiyashi Datta in Bengaluru Editing by Rashmi Aich)