Alibaba Leads $140 Million Funding Round in X Square Robot

Alibaba Group Holding Ltd. co-led the latest funding round in robotics startup X Square Robot, as the Chinese e-commerce company is trying to cement its leadership in emerging technologies.

The Hangzhou-based company has said it plans to spend $53 billion on AI infrastructure over three years in a major pivot. Artificial intelligence advancements promise to usher in a new generation of smarter robotics, and Beijing has made developing that sector a national priority.