A new AI lab led by Junyang Lin, the former head of Alibaba's Qwen models, has raised several hundred million dollars in funding, according to sources. The round values the startup at approximately $2 billion post-money. Tencent Holdings is among the backers of the venture.
The Information reports that this investment underscores the intense competition for top AI talent in China. Lin's departure from Alibaba to launch his own lab mirrors a broader trend of prominent researchers striking out on their own. The backing from Tencent, a major rival to Alibaba, adds a layer of strategic intrigue.
The specific valuation figure is reported as roughly $2 billion, though the exact amount raised has not been disclosed beyond being described as several hundred million dollars. The funding round signals strong investor confidence in Lin's ability to build competitive foundation models outside of his former employer.
The lab's focus is expected to be on developing advanced AI models, likely competing in the same space as Qwen and other leading systems. This could intensify rivalry between Tencent and Alibaba in the AI sector. Market watchers will be keen to see what products or breakthroughs the startup delivers.
The news highlights how top researchers are leveraging their expertise to attract significant venture capital, even amid a challenging fundraising environment for many tech startups.