Alibaba adds fresh AI startup to its investing portfolio amid increasing bets in the sector

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In the record funding deal for Moonshot AI, Alibaba not only supported most of the funding but also contributed through computing power services. This move echoes Microsoft’s investment in OpenAI, where a significant portion was allocated through cloud computing services, according to CNBC. Two of China’s leading artificial intelligence startups – Zhipu AI and Sogou founder-built Baichuan AI – also received funding from Alibaba in 2023. Context: “Artificial intelligence” was mentioned three times in this year’s government work report, delivered by China’s Premier Li Qiang on Tuesday. For instance, Lei Jun, Chairman and CEO of Xiaomi, suggested integrating AI literacy education into the nine-year compulsory education curriculum and introducing AI general education courses.