Chinese AI Startup Stepfun Raises USD718.8 Million to Boost Foundation Models Development, Terminal Agents Use
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Stepfun, a Chinese AI startup, has raised approximately USD718.8 million (CNY5 billion) to enhance foundation models and promote terminal Agent applications. The Series B+ funding round included investments from state-owned institutions and existing shareholders like Tencent. Additionally, Yin Qi, a seasoned entrepreneur in AI, has been appointed as chairman, aiming to foster collaboration with Qianli Technology. Founded in 2023 by former Microsoft VP Jiang Daxin, Stepfun focuses on AI model development and has partnered with Geely for smart cockpit innovations in their vehicles.
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