Baidu's AI voice assistant Xiaodu closes funding at $5.1 billion valuation

Reuters2021-08-24

(Reuters) - Chinese tech giant Baidu Inc said on Tuesday its artificial intelligence (AI) voice assistant Xiaodu Technology has closed Series B financing at a $5.1 billion valuation.

Xiaodu is the developer of DuerOS, a voice assistant system based on AI that supports television, speakers and other smart home appliances. It completed its Series A funding in November 2020 at a post-money valuation of $2.9 billion, said Baidu.

Earlier in March, Baidu said that its AI chip unit Kunlun also completed a round of fundraising, which according to one source with direct knowledge of the matter valued the business at about $2 billion.

Baidu said on Tuesday that after the transaction it would remain a majority shareholder.

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