Shanghai Electric will invest $9.9m in the fund, which is targeting AI and smart manufacturing industries, while a Golden Concord subsidiary is putting up $10.2m.

Power generation equipment supplier Shanghai Electric has invested in a RMB200m ($29m) China-based industry fund launched by an unspecified asset management firm, China Money Network has reported. The fund will invest in domestic artificial intelligence (AI) and smart manufacturing technology developers. Shanghai Electric is providing $9.9m for the fund through a subsidiary, joining GCL (Shanghai),…

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