AI startup AInnovation plans IPO at value of at least $1b in China

AI startup AInnovation plans IPO at value of at least $1b in China

Artificial intelligence. Photo: Reuters

The promise of artificial intelligence has yet to translate into big business. Now Kai-Fu Lee, a prominent venture capitalist in China and founder of Sinovation Ventures, says his firm’s new startup should be able to reach $100 million in revenue next year and go public the year after.

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