Deals
Alibaba Seeking Biggest Stake in AI Startup SenseTime
- It’s said to want to become the Chinese startup’s top holder
- Sensetime is one of the country’s best-funded AI firms
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Alibaba Group Holding Ltd. is in discussions to invest about 1.5 billion yuan ($227 million) and become the largest backer of Chinese facial recognition startup SenseTime, according to a person familiar with the matter.
The Chinese e-commerce giant is keen on owning a sizeable stake but has no interest in exerting control over the artificial intelligence startup, the person said, asking not to be identified discussing a private deal. SenseTime, which says it’s valued at more than $2 billion, is backed by Qualcomm Inc. and considered one of the more advanced players in machine vision technology.