Honor, a technology company, announced that it will invest 10 billion dollars in artificial intelligence devices. Over the next five years, Honor will allocate 10 billion dollars to enhance artificial intelligence. CEO James Li of the company, which is preparing for an IPO, stated during his speech at the Mobile World Congress (MWC) in Barcelona, that Honor aims to transition from being primarily a smartphone company to developing a system consisting of artificial intelligence supported PCs, tablets, and wearable devices. The announcement from Huawei’s former company Honor, comes at a time when the Chinese government is taking action to support artificial intelligence. According to the consultancy firm IDC, Honor dropped from second to fourth place in the Chinese phone market last year with a market share of 14.9%. Additionally, the company had announced the completion of its shareholder structure for the IPO in December, but no timeline for the public offering process has been published. It was also noted that Honor receives significant support from the Shenzhen government in research and development financing, tax breaks, and expansion into foreign markets.