Shanghai Invests in AI Fund

Shanghai has launched an Artificial Intelligence CVC Fund with an initial investment of 3 billion yuan. The fund seeks to expedite the advancement of AI technologies within the region. This initiative aims to establish Shanghai as a frontrunner in technological innovation, with significant implications for the local tech industry.

The fund will focus on robotics, autonomous driving, sensor technology and related supply chains. It will also invest in foundational and vertical industry models. This strategic move is expected to attract more technology firms to Shanghai.

The Shanghai Artificial Intelligence Industry Fund is managed by Lingang Sc-innovation Investment. The fund will target the artificial intelligence sector.