/Kunlun Tech building new AI company with USD 3 million investment

Kunlun Tech building new AI company with USD 3 million investment

Photo from www.163.com

Beijing Kunlun Tech, a listed gaming company, announced on Wednesday that it will invest USD three million with other players to build an artificial intelligence (AI) company, Kunlun AI. Kunlun Tech will have a 15% stake in the new company’s total shares.

According to Kunlun Tech’s announcement, Kunlun AI will provide AI and big data technology for companies in advertising, voice recognition, content recommendation, security, marketing and finance.

Kunlun AI will be headquartered in California. It claims to have recruited elites from Facebook, Baidu, Pinterest and Dropbox.

Kunlun Tech said that investing in AI is part of the company’s strategy to expand its global market.

In addition, Kunlun Tech also invested RMB four million (USD 614,000) in Beijing-based VR company ANTVR and RMB six million in game devices provider Ruiyue in March 2016. In February, it joined hands with China’s internet security company Qihoo 360 to purchase Norway-based web browser Opera with a bid of USD 1.2 billion. In January, it paid USD 800,000 to purchase 20% of the total shares of the AI company Woobo Inc..

(Top photo from www.163.com)