Sinovation Ventures, a Chinese venture capital firm founded by former Google China head Kai-Fu Lee, has announced the establishment of a RMB2.5 billion (US$391 million) artificial intelligence fund in Guangzhou. The fund will invest in projects related to AI, big data, education, consumption upgrade and B2B, and will help Guangzhou to develop its AI business chain, Sinovation Ventures said on its official WeChat account. In a move to help Guangzhou accelerate its AI development, Sinovation Ventures will also set up …

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