Baidu Competitor Says To Deal With AI As It Plans US IPO

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China’s second-largest cellular search engine Sogou, managed by and 45 p.c owned by Tencent Holdings, mentioned it is going to deal with synthetic intelligence (AI) because it goals to construct a next-generation search engine.

Chinese language web and gaming firm Sohu on Monday introduced the plan to drift Sogou in america “as early as market circumstances allow”, saying the search unit would make a confidential registration submitting to the US Securities and Alternate Fee.

Sogou is the second-largest cellular search engine in China after Baidu. Tencent is the most important shareholder in Sogou, although the stake carries much less voting energy than Sohu’s 39 p.c stake.

Sohu on Monday reported a 10 p.c income rise to $461 million (roughly Rs. 2,954 crores) within the second quarter, together with $211 million from Sogou, which rose at a sooner tempo of 20 p.c rise year-on-year.

Sogou CEO Wang Xiaochuan mentioned in an inside e mail after the announcement on Monday that Sogou would leverage its power in pure language processing, which he referred to as the “crown jewel” of synthetic intelligence, and transfer from search to question-answering.

The goal was to turn into an “innovator and pioneer in synthetic intelligence in China,” he mentioned within the e mail, the content material of which was confirmed by Sogou.

Wang additionally mentioned Sogou would improve funding into AI, massive knowledge and the so-called Web of Issues.

Sogou declined to touch upon the potential dimension of the IPO. Wang informed Bloomberg in an interview in January that Sogou was concentrating on a valuation of $5 billion.

Sogou merged with Tencent’s search enterprise Soso in 2013 upon Tencent’s strategic funding. Sohu administration mentioned in an earnings name on Monday that content-sharing with Tencent’s social media app WeChat contributed to Sogou’s search visitors development, which jumped 50 p.c in cellular up to now quarter.

WeChat, China’s hottest social media app with practically 1 billion month-to-month lively customers, in April established a small search division of its personal, which analysts mentioned might develop into a robust risk to different Chinese language search firms reminiscent of Sogou and Baidu.

Sogou declined to touch upon collaboration particulars with Tencent.

Sohu’s Nasdaq-listed shares jumped 12 p.c on Monday to a 19-month excessive.

© East Space Network

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