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Baidu Inc. (NASDAQ: BIDU), one of China s largest multinational technology companies, has completed a fundraising round on its artificial intelligence (AI) chip, Kunlun, that would value the business at $2 billion, a source told Reuters. The round, which generated an undisclosed amount of funding, was led by CITIC Private Equity Funds Management (CPE), and is said to include IDG Capital, Legend Capital and Oriza Hua.
The Kunlun chip has been praised for its development of autonomous vehicles and is used to improve mobile phone camera quality, speech and voice recognition. With AI capabilities, the device can perform offline and still perform system duties like driving, without having to reach out to the cloud for transportation data. The imitation-learning chip is preferred by some users because their data stays on their device rather than being transmitted over the cloud.
Baidu Apollo Selected to Build Landmark 5G Intelligent Driving Project in Chengdu
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BEIJING, March 10, 2021 /PRNewswire/ Baidu, Inc. (NASDAQ:BIDU), a leading AI company with strong Internet foundation, today announced that Baidu Apollo jointly won a bid to construct a 5G intelligent driving project in Chengdu in a tender worth RMB 105 million ($16.1 million). The first project of its kind on Sichuan Province, the win adds to Baidu Apollo s growing portfolio of smart transportation projects across China, which are leveraging the company s strengths in AI-powered new infrastructure to bring about an intelligent transformation of transportation and urban management.