for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Baidu to invest $202 million in Chinese AI company Neusoft

FILE PHOTO: A Baidu sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song/File Photo

BEIJING (Reuters) - China’s search engine giant Baidu said on Tuesday it will invest 1.44 billion yuan ($202 million) in artificial intelligence firm Neusoft Holdings, with a view to collaborate in sectors such as smart cities and healthcare.

Baidu’s chief technology officer, Wang Haifeng, will serve as a board director for Neusoft, which was founded in 2011 in the northeastern Chinese city of Dalian, Baidu said.

Reporting by Yingzhi Yang and Brenda Goh; Editing by Himani Sarkar

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up