Didi's record funding could mean it is setting sights on Uber

The funding round is said to value the company at more than $50 billion

Chinese ride-hailing giant Didi Chuxing just raised more than $5.5 billion, giving Uber Technologies Chief Executive Officer Travis Kalanick one more thing to worry about.

Didi’s record funding round is said to value the company at more than $50 billion and gives it a war chest to ramp up efforts to harness artificial intelligence, build driverless cars, and compete more aggressively in foreign markets. The cash infusion coincides with a rough period for Uber, which is facing lawsuits and an image problem, and follows a detente in China after Uber agreed to essentially cede the market to Didi in exchange for