Biggest AI Startup Hits Jackpot

China’s SenseTime has just raised another $620 million, while being valued at $4.5 billion, reports Bloomberg. The injection came just months after a similar amount was pledged by Alibaba and Singapore's state investment firm. The new financing, which included Fidelity International and Silver Lake Partners, brings the total raised to $1.2 billion. Bloomberg notes that the valuation of the startup, which specializes in facial recognition AI, has tripled in a year. Both the U.S. and China are in a race to dominate the field of artificial intelligence.

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