Lin Junyang, one of the key people behind Alibaba s Qwen model family, has reportedly closed a first round for his new AI lab at a valuation around $2 billion. Sequoia China and Gaorong Capital each invested about $100 million.
Why it matters
Lin left Alibaba after a March reorganization of the Qwen team. Rather than building another language-model chatbot, the new company is focused on world models and embodied intelligence, aiming to move foundation models from screens into robots and physical environments.
The valuation is a bet on a proven technical leader, not yet on a proven business. Investors are paying for Qwen s track record and for the chance that China s next robotics AI platform comes from a team already fluent in open models.
Sources: The Information；36Kr；CocoLoop