One of China’s most highly anticipated artificial intelligence startups is undergoing a significant change of direction.
Guangnian Zhi Wai, or Light Years Beyond, which was founded merely four months ago by Wang Huiwen, a co-founder of Meituan, with the ambition of becoming the “OpenAI for China”, is getting bought out.
In a filing released on Thursday, Meituan announced that it will be fully acquiring Light Years Beyond for $233.7 million in cash. It’s also taking on the startup’s $50.66 million debt.
The acquisition came shortly after Meituan announced Wang Huiwen was resigning from all his corporate roles at the …
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