Chinese game developer Kunlun invests $3 million in Silicon Valley AI company

Publicly traded Chinese gaming company Beijing Kunlun Technology Co. Ltd. announced on Wednesday a $3 million USD investment in Kunlun AI, a new company jointly established by Kunlun Tech’s Hong Kong subsidiary and a few undisclosed partners. Kunlun Tech will own a 15 percent stake in the new company.

Based in Palo Alto, Calif., Kunlun AI will develop big data and AI-driven corporate solutions in advertising, content recommendations, security, marketing, finance, and speech recognition, according to a press release. The company also claims to have pulled hires from well-known tech giants like Facebook, Dropbox, Pinterest, and Baidu.