Tencent invests in Alibaba's Qwen former head Lin Junyang's AI laboratory, with a valuation of 2 billion dollars
By: rootdata|2026/06/16 04:45:01
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According to The Information, sources revealed that Tencent has invested in a new AI laboratory founded by Lin Junyang, the former core leader of Alibaba's Tongyi Qwen large model. In Lin Junyang's first round of financing, Tencent invested $20 million, with the total amount raised in the first round reaching several hundred million dollars, and a post-investment valuation of approximately $2 billion. The first round of financing was led by Sequoia China and Gaorong Capital, with both parties investing $100 million each. After completing the first round of transactions, Lin Junyang is already seeking the next round of financing.
Before this transaction, Tencent had already invested in several local large model developers in China, including Dark Side of the Moon, MiniMax, and Zhiyu AI, and is currently participating in the latest round of financing for DeepSeek. Lin Junyang left Alibaba in early March this year. Due to disagreements with Alibaba regarding team restructuring, he chose to publicly announce his resignation on the social platform X.
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