Xiaomi to invest $7 billion in 5G, AI, Internet of Things over next 5 years


Chinese smartphone maker Xiaomi Corp will invest more than 50 billion yuan ($7.18 billion) in artificial intelligence and fifth generation internet technologies over the next five years, as competition in the sector grows.

Xiaomi Chief Executive Lei Jun made the announcement in a letter posted on the company's social media account on Thursday, but did not provide specific investment details. "We need to turn our continuous advantage we have in AIoT and intelligent life into absolute victory in intelligent full scene, and.

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