China claims most AI unicorns as US rivalry heats up

China is home to the most number of artificial intelligence start-ups valued at US$1 billion or above, according to CB Insights, a research firm that tracks venture capital activity. Six of the 11 so-called unicorns in the annual compilation of top AI start-ups are from China, with SenseTime taking top spot with a valuation of US$4.5 billion. Two Chinese facial recognition companies on the list, SenseTime and Face, also received the most equity funding among all AI start-ups, raising US$1.6 billion and US$608 million respectively, according to CB Insights. Other top AI unicorns from China include Yitu Technology, 4Paradigm, and autonomous driving companies Pony.ai and Momenta. The rankings highlight China's efforts in developing technology that has been dubbed the fourth industrial revolution.