Baidu launches 0m venture capital unit focused on artificial intelligence

Baidu Inc, the Chinese internet search giant, has created a US$200 million venture capital unit to invest in artificial intelligence projects. The new unit, Baidu Venture, is chaired by chief executive Robin Li Yanhong and will focus on projects also in augment reality and virtual reality. “The first-phase investment is planned at US$200 million and the fund will invest in projects that are at their early stage,” the company said. The unit will be independently run from Baidu’s existing investment teams, allowing it to make fast decisions without having to go through complicated internal approval process, it added. Baidu is betting big on AI technology as a fresh income stream amid a slowdown in its search and advertising business. The company created a deep-learning research institute in 2013, and more…


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