VAST, a Chinese AI model developer founded by 29-year-old gaming enthusiast Simon Song, has become a unicorn startup after raising about $200 million in fresh funding from over a dozen investors including INCE Capital, Genesis Capital and Primavera Capital Group.

The company announced its Series A and Series A financing on Monday. It has reached a valuation of at least $1 billion, according to two people with knowledge of the deal. One of the people said the startup is now valued at about $1.5 billion. A VAST spokesperson declined to comment on the company's valuation.

The fresh financing comes just three months after its Series A round in March, when the........

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