Tencent has reportedly joined the latest fundraising round of Moonshot AI, China’s star venture in the current AI wave, according to a Bloomberg report. The over $300 million funding values the Beijing-based startup at $3.3 billion, making the ChatGPT-like Kimi creator the latest AI startup backed by both the country’s tech giants Alibaba and Tencent, after Baichuan, MiniMax, and Zhipu AI. Tencent’s cash injection into Moonshot AI appear to be its wager on the most promising companies to stand out in the busy competition field. The WeChat owner launched its Hunyuan AI model in September 2023 and its Yuanbao app powered by Hunyuan in May this year. [Bloomberg]

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