Reported Earlier, The9 Acquires 19% Stake In AI-Powered Educational Technology Firm WeiXiang
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The9 Limited (NASDAQ:NCTY) has acquired a 19% stake in AI-powered educational technology firm WeiXiang. The acquisition involves cash and issuance of The9's restricted shares. The9 also has an option to increase its stake to 51% based on WeiXiang's future profits.
June 03, 2024 | 5:16 am
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The9 Limited has acquired a 19% stake in WeiXiang, an AI-powered educational technology firm. This move could diversify The9's business and potentially increase its revenue streams.
The acquisition of a stake in WeiXiang could diversify The9's business operations and open new revenue streams in the growing educational technology sector. The option to increase the stake to 51% based on future profits indicates a strategic long-term investment.
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