Deals
SoftBank Fund Is Said to Seek Investment in Chinese AI Giant
- A deal would be SenseTime’s third major funding in past year
- SenseTime uses artificial intelligence for facial recognition
Photographer: Akio Kon/Bloomberg
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SoftBank Vision Fund is seeking to invest almost $1 billion in China’s SenseTime Group Ltd. as it seeks a stake in the world’s most valuable artificial intelligence startup, people familiar with the matter said.
The fund, created by SoftBank Group Corp., and SenseTime are still finalizing terms of the deal and the details could still change, the people said, asking not to be identified as the details are private. The company has already announced two other funding rounds this year as it raised more than $1.2 billion.