Nanshan District launched an "AI Fund Cluster" on Oct. 9 with a total scale of 30 billion yuan (US$4.1 billion) to provide financial backing for companies in artificial intelligence and embodied robotics.

The announcement was made at the "X-Day" X-Lake Roadshow event held at the University Town of Shenzhen Conference Center.

The new fund cluster consists of three separate funds designed to create a capital matrix covering key sectors like AI and embodied robotics. According to officials, the initiative aims to combine forces with market-driven capital to offer financial support to AI technology firms at various development stages and following different technological paths.

The event also featured a roadshow where representatives from six companies demonstrated innovative applications of AI technology in fields such as architectural design, 3D generation, three-dimensional vision, and robotics. Several investment institutions reportedly reached preliminary cooperation intentions with the presenting companies.