Tencent has invested in a new AI lab founded by the former head of Alibaba's Tongyi Qianwen, raising hundreds of millions of dollars in its first round of funding.

Svmuu News: A new AI lab founded by Lin Junyang, former head of Alibaba’s Tongyi Qianwen, has completed its first round of funding. The round raised hundreds of millions of dollars, with a post-investment valuation of approximately $2 billion. Sequoia Capital China and Gaorong Ventures each led the round with $100 million in funding, while Tencent participated with a $20 million investment. Lin Junyang left the company in March due to disagreements over team restructuring, and the project has now begun preparations for a new round of funding. Tencent, which is ramping up its AI initiatives, has previously invested in several domestic large-model companies and is currently participating in DeepSeek’s latest funding round. (The Information)