Chinese search giant Baidu launches $145m VC fund to back AI startups

Chinese search giant Baidu launches $145m VC fund to back AI startups

FILE PHOTO: Men interact with a Baidu AI robot near the company logo at its headquarters in Beijing, China April 23, 2021. REUTERS/Florence Lo

Chinese search giant Baidu Inc will set up a venture capital fund of 1 billion yuan ($145 million) to back startups focused on content generated by artificial intelligence applications, it said on Wednesday.