China Fund Raises $500 Million to Snap Up Cheaper AI Startups [Bloomberg Business News]
iQIYI, Inc. - American Depositary Shares (IQ)
Last iqiyi, inc. - american depositary shares earnings: 2/27 04:30 pm
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Source: Bloomberg Business News
Google’s former Chinese chief just raised $500 million to invest in the country’s artificial intelligence startups. But first, he needs their valuations to come back down to earth. Lee Kai-Fu’s Sinovation Ventures is one of the biggest players prospecting for promising Chinese AI startups: a gold rush fomented by corporate touting and Chinese government backing that’s raised the cost of buying into the industry over the past year. About half of his new Fund IV has already been earmarked for investments in fields such as machine learning. But with many domestic startups offering little more than a concept, he’s counting on a crash in investor confidence to serve up cut-priced opportunities. “We’re going to see a number of AI companies deliver nothing and go out of business and that will cause some degree of sentiment shift,” he told Bloomberg News in an interview. “That’s why we thought we should raise a large fund now and deploy it when we expect to see opportun
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IQ
News
- iQIYI to Report First Quarter 2024 Financial Results on May 16, 2024GlobeNewswire
- Is iQIYI (IQ) Stock Undervalued Right Now? [Yahoo! Finance]Yahoo! Finance
- iQIYI, Inc. (NASDAQ: IQ) had its "mixed" rating re-affirmed by analysts at OTR Global.MarketBeat
- iQIYI Launches 'Art Films' Series, Celebrating Artistic Filmmaking and Global MasterpiecesPR Newswire
- iQIYI Launches 'Art Films' Series, Celebrating Artistic Filmmaking and Global MasterpiecesPR Newswire
IQ
Earnings
- 2/28/24 - Beat
IQ
Sec Filings
- 3/15/24 - Form 144
- 3/14/24 - Form 20-F
- 2/29/24 - Form 6-K
- IQ's page on the SEC website