NextFin News -- China's Xiaomi founder, chairman, and CEO Lei Jun said on Monday that the company's budget for research and development and capital expenditure in the artificial intelligence field in 2026 amounts to 16 billion yuan (about $2.3 billion). Significant progress has already been made in projects such as foundational large models, embodied intelligent robots, and mobile lobster (referring to smartphone innovations). The company has also started a special recruitment initiative for AI talent has officially been launched. Xiaomi is a leading player in the China markets of smart phones, home appliances and cars.