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Alibaba Group Holding Ltd. co-led the latest funding round in robotics startup X Square Robot, as the Chinese ecommerce company is trying to cement its leadership in emerging technologies.
The Hangzhou-based company has said it plans to spend $53 billion on AI infrastructure over three years in a major pivot. Artificial intelligence advancements promise to usher in a new generation of smarter robotics, and Beijing has made developing that sector a national priority.
Shenzhen-based X Square Robot, founded in 2023, secured 1 billion yuan ($140 million)…
