Chinese AI Startup MagicLab Raises $20.6 Million; Stepfun Secures Hundreds of Millions in Series B Funding

Chinese AI startup MagicLab has secured $20.6 million in angel funding, according to reports. Meanwhile, another Shanghai firm has played a crucial role in helping the AI startup Stepfun raise hundreds of millions of dollars in Series B funding. This collaboration highlights the growing investment landscape in the AI sector, with multiple investors participating in the funding rounds. The financial boosts for both companies signal a strong potential for growth and innovation within the artificial intelligence industry.