"BEIJING—China’s ride-sharing platform Didi Chuxing Technology Co. has raised $4 billion in its latest round of funding, according to people familiar with the m

"BEIJING—China’s ride-sharing platform Didi Chuxing Technology Co. has raised $4 billion in its latest round of funding, according to people familiar with the matter. Investors of the Beijing-based ride-sharing app, which is expected to list next year, include Japanese tech giant SoftBank Corp. and Mubadala Capital, a Abu Dhabi state fund, these people said. The new money is earmarked for artificial intelligence efforts and international expansion. Didi carries a valuation of more than $50 billion, making it one of Asia’s largest startups, according to people familiar with the matter. The company also now has $12 billion in cash reserves, including the latest investment, up from $3.5 billion two years ago, these people said. After purchasing Uber Technologies Inc.’s Chinese operations last year, Didi has been working on pushing its business abroad. In March, Didi opened a research and development lab in Silicon Valley to focus on intelligent driving technologies and AI-based security. The lab now has about 100 staff. The company also is looking to expand to Taiwan with a local partner, LEDI Technology Co. Some of the money Didi raised will go toward building out an electric car charging network. Didi has said more than 260,000 cars on Didi’s platform are electric and the company aims to increase that number to 1 million by 2020."