Qi-Anxin Group

Hefei-based Xingming AI has raised several hundred million yuan upon completing A+ financing round, according to its announcement released on Monday. The fundraising effort was led by Kaiyuan Industrial,

Alibaba Cloud has launched its latest AI model in its "Qwen series," as large language model competition in China continues to heat up.

DBS Group's incoming CEO Tan Su Shan is eyeing "bolt-on" acquisitions that align with the Singaporean lender's digital and AI-driven priorities, while focusing on boosting high-return businesses such as wealth and transaction banking.

Ant used domestic chips, including from Alibaba and Huawei, to train models using the so-called Mixture of Experts machine learning approach.

Alibaba-affiliate Ant Group is using both Chinese and U.S.-made semiconductors to make its AI more efficient, according to a source familiar with the matter.

Qi enhances its customer service with Genesys' Generative AI and Cloud technology, achieving an 80% reduction in response time and 60% telecom cost savings.

Alibaba's foray into AI is part of a larger strategy for massive investments in AI and cloud computing infrastructure. Alibaba has invested a whopping $53 billion in three years to build its prowess in these areas as a step to leverage the industry-wide disruption potential of AI.

ByteDance cofounder Zhang Yiming has become China's richest man as investors bet on companies with AI potential.