Baidu to invest $202 million in Chinese AI company Neusoft

Technology

FILE PHOTO: A Baidu sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song/File Photo

BEIJING (Reuters) – China’s search engine giant Baidu said on Tuesday it will invest 1.44 billion yuan ($202 million) in artificial intelligence firm Neusoft Holdings, with a view to collaborate in sectors such as smart cities and healthcare.

Baidu’s chief technology officer, Wang Haifeng, will serve as a board director for Neusoft, which was founded in 2011 in the northeastern Chinese city of Dalian, Baidu said.

Reporting by Yingzhi Yang and Brenda Goh; Editing by Himani Sarkar

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