(Yicai Global) Nov. 28 -- Shanghai authorities plan to offer monetary support to 64 local innovators in the field of artificial intelligence, 45 more than it originally planned.

Those in line for the cash include domestic unicorns Cambricon Information Technology and Horizon Artificial Intelligence, state-backed Shanghai Securities Journal reported today, citing the website of the Shanghai Municipal Commission of Economy and Informatization. Top educational institutes like Fudan, Shanghai Jiaotong and Tongji University are also on the list.

The news follows an announcement yesterday that search and tech giant Baidu, hailed as China's Google, will build an AI hub in the city and offer smart data collection services for the local government.

The commission originally planned to hand out CNY100 million (USD14.4 million) to 19 companies, including auto parts maker Baolong Automotive, it said in a statement in March. It has not disclosed how much it will make available to the new additions.

All companies on the updated list are undertaking special projects that will accelerate the development of next-gen AI technology in Shanghai, the report added, saying authorities will offer strategic guidance to the firms.

Editor: James Boynton