Chinese artificial intelligence start-up Moonshot AI has raised more than US$1 billion in a new funding round led by e-commerce giant Alibaba Group Holding and venture capital firm HongShan, as interest among investors remains high for innovative mainland enterprises similar to ChatGPT creator OpenAI. Beijing-based Moonshot AI, known in Chinese as Yuezhi Anmian, was valued at about US$2.5 billion in its latest funding round, according to separate reports published on Monday by local media 36Kr a
Shanghai stocks advanced on Monday but posted relatively modest gains as Chinese investors returned from the Lunar New Year holiday.
A New York pension bought up shares of New York Community Bank shortly before shares of the regional lender tumbled, and slashed investments in two Chinese companies. New York State Common Retirement Fund added to its stake in NYCB in the fourth quarter of 2023, not long before shares dove at the end of January 2024. During the quarter, the pension also sold material amounts of Alibaba Group Holding and Tencent Music Entertainment Group shares, and trimmed its investment in Palantir Technologies NYSCRF disclosed the stock trades, among others, in a form it filed with the Securities and Exchange Commission.