Wangsu Science & Technology to Invest 45 Million USD in Video Generation Firm Sand.ai

Wangsu Science & Technology announced a plan to invest 300 million yuan (approximately 45 million USD) into Sand.ai. The company will subscribe to Series A+ preferred shares of Sandai Cayman, securing a 4.3963% stake. As a transitional arrangement, Wangsu will provide a 300 million yuan convertible bond to Shanghai Sandai Technology.