Moonshot AI Secures Significant Investment from Alibaba, with 36% Stake

Quick Summary:

Alibaba has emerged as a major backer of Moonshot AI, one of China’s hottest artificial intelligence start-ups, holding a 36 per cent stake in the firm.

That enthusiasm is also shared by Shenzhen-based Tencent, which has so far invested in three of the AI tigers, save for Moonshot.

An aerial photo shows the Alibaba office building in Nanjing, China, May 15, 2024.

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Article Details

Author / Journalist: Ben Jiang

Category: Technology

Markets: Hong KongChina

Topics: China Local Billion Tencent Alibaba Group Including According Moonshot 2024 Been

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-25 @ 07:00:13 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 437 words

Reading Time: 3 minutes read

Sentences: 12 lines

Sentence Length: 37 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21077882

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Official Website: scmp.com

Year Established: 1903

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