Why Healthcare Giants Like Andon Health Are Becoming Key AI Investors

创业邦 · wechat · 2026-08-05

Traditional healthcare giants like Andon Health and By-health are emerging as the most aggressive CVCs in China's hard-tech sector.

Investment Map: Andon Health invested tens of millions of USD in Moonshot AI and spent 750M RMB to indirectly hold shares in DeepSeek. By-health also invested 15M USD in Moonshot AI and directly funded AI inference chip startup Yuanli Semiconductor.
Core Drivers: Having accumulated massive cash flows during the pandemic or via high margins, these companies face primary business growth anxiety. They are channeling idle funds into the most lucrative AI and semiconductor tracks to hedge against inflation and seek high returns.
Strategic Differences: Andon Health acts almost like a tech holding company using capital to fill revenue gaps, while By-health emphasizes steady financial investment to build a window into frontier tech and explore potential business synergies.

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