China’s AI start-up funding triples to US$16b in first quarter amid bets on LLMs.
Funding for China’s artificial-intelligence-related start-ups jumped nearly threefold year on year in the first quarter, as investors poured capital into large language models (LLMs) and embodied AI amid growing optimism over the country’s technology ecosystem.
AI-related start-ups secured more than 110 billion yuan (US$16.2 billion) in the first three months of the year, representing a 185 per cent surge from the same period last year, according to data released on Thursday by Beijing-based venture capital and private equity research firm Zero2IPO Research.
The AI boom has helped lift China’s broader private equity and venture capital market. Total investment activity reached 2,568 deals worth 234.4 billion yuan in the March quarter