Qianwen's former boss founded an AI company with a valuation of 15.6 billion to seek funding

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May 14, 2026

Qwen, the AI foundational model under Alibaba (09988), was created by former head Justin Lin, who suddenly resigned in March. According to mainland media reports, Lin is seeking hundreds of millions of dollars in funding for a newly established AI laboratory. After the funding is completed, the valuation is expected to be around $2 billion (approximately HKD 15.6 billion).

Justin Lin left in March to start his own venture The report states that the funding negotiations are still ongoing, most …

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