Chinese ride-hailing giant Didi Chuxing raises $4 billion for AI push and international expansion

Didi Chuxing has announced another gargantuan equity funding round, as the Chinese ride-hailing giant reveals it has raised a further $4 billion. This latest round comes just eight months after the company raised $5.5 billion, which followed a year after it raised $7.3 billion from big-name backers including Apple. This new cash injection takes Didi's total inbound investments to $19.7 billion, though the company didn't reveal who the investors were beyond stating they were "Chinese and international institutions." With another $4 billion in the bank, Didi said that it plans double down on its artificial intelligence (AI) investments, support its global expansion, and support other initiatives such as "new energy vehicle service networks," according to a statement issued by the company. Similar to Uber, Didi Chuxing offers smartphone-based car services, such as carpooling, taxis, and premium cars with drivers, while it has previously revealed how it's lending its data to cities which are leveraging it in all manner of ways to fight road congestion.