CDH and SenseTime expect to guide the development of artificial intelligence $ 450 million
Communication Reuters, the China investment company and CDH Investments Hong Kong company SenseTime Group intends to attract investments in the amount of approximately $ 450 million. Funds from this Fund, the partners plan to allocate to young companies developing artificial intelligence (AI).
The plan is part of the strategy of China aimed at the development of artificial intelligence technologies, acquiring key importance in many areas.
Development previously interested in a relatively narrow circle of specialists, has recently received increased attention in medicine, the financial sector, the creators of security systems and self-driving vehicles.
The aforementioned company SenseTime has experience in developing apps with AI, so will be able to act as technical expert in the selection of prospective investments. When you plan to hold a fundraiser and one of the investors expect the partners is still unknown.
It remains to add that the company SenseTime in July, has already attracted investments in the amount of 410 million dollars, which has become one of the largest amounts collected in any of the developers of AI. The main investors were then CDH and Chinese Fund with state participation Sailing Capital. The cost of the SenseTime is now estimated at more than $ 1.5 billion.