China is benefiting from its government’s focus on artificial intelligence (AI) with unlisted companies having raised RMB203.7m ($30bn) in venture capital since 2016, according to Nikkei Asia Tech and 36kr.
The data providers estimate the $30bn figure equates to around 86% of venture dollars invested in China-based AI developers since 1998.
China is beginning to rival US activity in the space in terms of dollars, and the country may overtake its geopolitical rival if it can maintain its momentum.
Data from trade body National Venture Capital Association and deals database PitchBook suggests US-based AI firms raised a total of $51.9bn from 2016 until 2019 – but crucially do not include…
