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New AI fund in China to pour US$8 billion into early-stage projects

China has disclosed details about a 60 billion yuan (US$8.2 billion) state fund aimed at early-stage investments in artificial intelligence (AI) projects, underscoring Beijing’s commitment to advancing the industry through state-led investments.Zhang Jianhua, an official from the Ministry of Industry and Information Technology overseeing the fund, said at a conference in Shenzhen that the AI Industry Investment Fund was established in January under the guidance of the industry and finance minist...

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