BEIJING: Google’s former Chinese chief just raised US$500mil to invest in the country’s artificial intelligence (AI) startups. But first, he needs their valuations to come back down to earth.
Lee Kai-Fu’s Sinovation Ventures is one of the biggest players prospecting for promising Chinese AI startups: a gold rush fomented by corporate touting and Chinese government backing that’s raised the cost of buying into the industry over the past year.
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