Tencent Invests $20M in AI Lab Founded by Former Alibaba Qwen Chief Lin Junyang, Valuation Hits $2B

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According to The Information, Tencent has invested $20 million in a new AI lab founded by Lin Junyang, the former core leader of Alibaba's Qwen large language model, as of June 15. The Series A round raised hundreds of millions of dollars with a post-money valuation of approximately $2 billion, led jointly by Sequoia Capital China and Gaorong Capital, each investing $100 million. Lin departed from Alibaba in early March after disagreements over team restructuring.
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