Sequoia invests in Chinese AI drug startup

For the next generation, the virtual world might be the real world. And for private capitalists, it could mean a great business.

The social media giant has raised $250 million with eight other investors for its online medical services platform Tencent Trusted Doctor.

While car sales continue to decline in China, Sequoia Capital China and Source Code Capital are betting on an increasing need for auto parts with CassTime.

Proposal from the Japan and US semiconductor firms for flash memory technology is contingent on government support.

Companies tied to AI, including in Asia, account for a rising proportion of major investment indices, challenging diversification strategies. Chinese players are gaining ground on the US giants in the AI race, leading to greater stock volatility. Christopher Chu reports.

The Series D round values the Korean semiconductor startup at $2.9bn as it targets global commercialisation of its AI inference accelerator.