Meituan Founder Joins Artificial Intelligence Startup In A-Round Investment

Key Points:

• Meituan founder Wang Xing joins start-up “Light Years Beyond” to build China’s OpenAI.
• $50 million invested with a $200 million valuation, with 25% of shares allocated for capital and 75% for top R&D talents.
• Top R&D talents recruited to develop Light Years Beyond’s AI technology, competing with Microsoft and Google.

Meituan’s founder, Wang Xing, has announced his involvement in Wang Huiwen’s start-up, which aims to build China’s OpenAI. Despite concerns about the future impact of AI, Wang Xing is excited about the huge productivity that will be created.

Previously, Wang Huiwen announced his plans to invest $50 million in the start-up, with a valuation of $200 million. The capital will account for 25% of the shares, and the remaining 75% will be used to invite top R&D talents.

The development of OpenAI’s chatbot, ChatGPT, has triggered a new round of technological competition in the field of artificial intelligence, with Microsoft and Google adding AI to their products.

Although Wang Huiwen admitted to not fully understanding AI technology, he plans to recruit top R&D talents who believe that AI will change the world and ensure that AI will benefit humanity. The next round of financing for Light Years Beyond has already been subscribed for $230 million by top VCs.

Wang Huiwen has posted on WeChat Moments, stating that he will enter the artificial intelligence track, and is willing to spend $50 million to “join the team.” He does not mind his salary or position, as his primary goal is to form a team.

As the demand for AI continues to grow, the development of Light Years Beyond and the involvement of Meituan’s founder in the project demonstrates the increasing interest in this area of technology. With top R&D talents on board and substantial funding, the potential for Light Years Beyond to make significant strides in the AI industry is promising.

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