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Alibaba Leads Record Deal to Create $2.5 Billion China AI Firm

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Feb. 27, 2024, 5:44 a.m. | Jane Zhang, Sarah Zheng

Bloomberg Technology bloomberg.com

Alibaba Group Holding Ltd. led the largest single financing round for a Chinese artificial intelligence startup, the latest in a string of sizeable investments that suggest the e-commerce firm is again deploying capital in the hunt for growth.

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