The launch marks a significant shift for Waymo, which has historically relied on modified production vehicles, toward a purpose-built platform designed specifically for fully autonomous transportation.
The launch positions Alibaba among a growing number of companies seeking to develop general-purpose AI models capable of operating in physical environments.
This cash infusion comes as demand for AI data center networking hardware has been growing at an accelerated pace this year.
The rollout follows an exclusive partnership with state broadcaster China Central Television, making Rokid the first AI glasses brand to sponsor World Cup broadcast.
The move signals growing interest from industrial investors in microfluidic chips and thermal management technologies.
Lumos said participants will not be required to pay licensing fees, provide equity or make upfront purchases.
The Hong Kong listing would mark a pivotal step in transforming the firm from a local rental operation into a global trade services player.
The evaluation places Hangzhou ahead of Ningbo and Wuhan, which ranked second and third respectively across the first batch of 30 cities selected under the program launched in 2023.
Founder and chief executive Liang Wenfeng has pledged 20 billion yuan of personal capital, accounting for roughly 40% of the round, the report said.
The promotion comes as Alibaba intensifies investment in AI across its consumer, cloud and enterprise operations.
