Beijing-based AI startup Baichuan raised about $687M at a $2.8B valuation from investors, including Beijing, Shanghai, and Shenzhen governments, and Alibaba (Bloomberg)

Bloomberg:
Beijing-based AI startup Baichuan raised about $687M at a $2.8B valuation from investors, including Beijing, Shanghai, and Shenzhen governments, and Alibaba  —  - Baichuan joins MiniMax and Moonshot in getting Alibaba support  — China seeks to counter US curbs by investing in emerging tech