Shenzhen-listed gaming company Beijing Kunlun Tech has invested $50 million into autonomous driving startup Pony.ai.
The 3% stake that Kunlun has acquired in Pony.ai is a move for the company into artificial intelligence.
Autonomous driving has become a heated battlefield, not only for venture capitalists but also for players in other fields. Indeed, this is the third investment in the sector this week. Chinese car manufacturer Dongfeng Motor has invested over $10 million in AutoX, and JoyCapital and Ivy Capital have invested $14 million in Roadefend.
Kunlun’s investment is different to many others as there has been no mention...