Artificial Intelligence, Auto, China, Companies, News

Uber’s Competitor Didi Chuxing Raises $4B more for AI

China’s Didi Chuxing, the country’s ride-hailing giant , said today that it has raised $4 billion in new capital to proceed with their international expansion. In that way, they are posing a direct challenge to its U.S. rival Uber in its efforts to branch out overseas. Just eight months ago, the company raised $5.5 billion, and in 2016 they raised raised $7.3 billion from big companies including Apple. This takes Didi’s total inbound investments to $19.7 billion, but the company only said that the money came from “Chinese and international institutions.” The company expects to continue that expansion and they promised that the part of the funding will be dedicated to the development

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