Foxconn's parent company, Hon Hai, announced yesterday that it has invested $10 million to acquire a 12% stake in the artificial intelligence startup company MORAN COGNITIVE TECHNOLOGY (CAYMAN) LIMITED. According to Hon Hai, the investment is aimed at the Group's long-term development strategy.

According to MORAN COGNITIVE, the company was founded in May 2016 and was registered in Hong Kong by Dai Shuaixiang, who was responsible for natural language processing in Baidu, specializes in AI-assisted speech recognition. This year, the company expanded its smart home application layout and enter the voice control application system of the smart TV market in mainland China.