Chinese Leader Responds! Insider Reveals Turing Award Winner is Preparing an AI and Blockchain Venture Capital Fund

2024/06/12 17:37

According to China's official news agency Xinhua, China's top leader Xi Jinping recently replied to Yao Qizhi, an academician of the Chinese Academy of Sciences and a professor at Tsinghua University, expressing sincere greetings and high hopes. Several insiders previously revealed that Yao Qizhi is preparing an AI and blockchain venture capital fund.

In his reply, Xi Jinping praised Yao Qizhi for his two decades of teaching and research innovation at Tsinghua University, stating that Yao has turned his patriotism into action, achieving fruitful results.

Professor Yao Qizhi had long been teaching at American universities and returned to China full-time in 2004 to join Tsinghua University. He currently serves as the dean of Tsinghua University's Institute for Artificial Intelligence and the dean of the Institute for Interdisciplinary Information Sciences.

Recently, he wrote to Xi Jinping, reporting his achievements in talent cultivation and scientific research innovation over the past 20 years, and expressing his determination to continue contributing to China's technological development and national rejuvenation.

According to 36Kr, multiple insiders have disclosed that Turing Award winner Yao Qizhi is currently preparing a VC fund with an initial size ranging from $500 million to $1 billion. The fund will focus on early-stage investments in cutting-edge technology fields such as AI, blockchain, and quantum computing, covering seed, angel, and Series A rounds.

Additionally, he serves as the chief scientist for the public blockchain network operator "Shanghai Tree-Graph" (Conflux).

On Wednesday (June 12), Conflux (CFX), the token of Shanghai Tree-Graph, reversed its downward trend, rebounding to $0.1883.

China

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