Ex-Qwen Tech Lead Launches Startup Valued at $2B

Lin Junyang, former head of Alibaba's Qwen technology, has officially launched his startup Pragmatik Labs, valued at $2 billion. The company focuses on next-generation agents spanning digital and physical worlds, with backing from GSR Ventures and Sequoia Capital China. This move signals a shift from foundation models to agentic AI, though it faces challenges in hardware-software integration and long development cycles.