Tencent co-invests with a step-up of 2.5 billion USD in funding, and both parties have reached a strategic partnership.

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Mars Finance News, May 11 — According to reports, the old shareholder Tencent has co-invested in the latest round of funding for LeapStar. Last week, sources said that Leap is about to complete a $2.5 billion financing and has dismantled its red-chip structure, accelerating preparations for an IPO in Hong Kong. It is understood that as early as the Series B funding round, Tencent had already entered its shareholder list and continued to co-invest. Not long ago, the partnership between the two sides was further deepened. Tencent Cloud and Leap signed a strategic cooperation agreement, and both parties will integrate Leap’s foundational large model and Tencent’s content and application ecosystem to jointly develop the AI cockpit Agent, connecting Tencent’s music, video, maps, payments, travel services, and other sectors to create a closed-loop in-car service. (Science and Technology Innovation Board Daily)

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