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BEIJING, June 30 (TiPost)— The world’s No.1 food delivery service provider joined a heated artificial intelligence (AI) race with the biggest Artificial Intelligence-Generated Content (AIGC) deal in its homeland. The new effort was deemed as a brilliant move to kill two birds with one stone, as i...
(Bloomberg) -- Meituan is buying a co-founder’s generative AI startup for almost $234 million, a deal that gets the food-delivery giant into a Chinese race to develop ChatGPT-like services.Most Read from BloombergSwitzerland Blocks Sale of Leopard 1 Tanks Bound for UkraineA $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity SouthTrump ‘Standing Order’ to Declassify Not Found by DOJ, Intelligence AgencyPutin Claims He’s Back in Control. Russia’s Elite Isn’t SureSupreme Court Rejec
China’s tech sector has a new obsession: competing with U.S. titans such as Google and Microsoft in the breakneck global artificial intelligence race.
The cash consideration includes a $28-million payment to HongShan, which holds a 2.44% stake in Light Year.
Meituan is buying out four-month-old AI start-up founded by former executive and long-time aide of CEO Wang Xing.