一年后，当Kimi和MiniMax投资人再坐到一起

Core Viewpoint - The competitive landscape of AI companies in China has dramatically changed with the emergence of DeepSeek, shifting the focus from direct competition between Kimi and MiniMax to broader discussions about the future of AI and its implications for humanity [1][2]. Group 1: Impact of DeepSeek - DeepSeek has significantly influenced the AI landscape in China, benefiting all AI companies and altering the funding environment [9][11]. - The introduction of DeepSeek has led to a reassessment of the positioning and strategies of other AI companies, including Kimi and MiniMax, prompting them to focus on their unique strengths and innovations [12][10]. Group 2: Investment Insights - Investors emphasize the importance of strong teams over mere technological advancements, highlighting that the best teams will continue to innovate despite market fluctuations [4][5]. - The rapid evolution of the AI industry means that a year in AI can equate to several years in other sectors, necessitating a keen focus on emerging trends and technologies [7][6]. Group 3: Agent Technology - The rise of Agent technology is seen as a significant opportunity, with applications capable of autonomous planning and task execution becoming increasingly viable [14][15]. - Investors are particularly interested in vertical Agents that can accumulate unique knowledge bases, potentially leading to competitive advantages in specific domains [21][20]. Group 4: Embodied Intelligence - There is a recognition of a bubble in the embodied intelligence sector, with many companies overvalued despite the potential for future breakthroughs [28][27]. - The current stage of embodied intelligence is compared to early autonomous driving technology, where significant investment occurred without clear paths to commercialization [30][29]. Group 5: Lessons from Investment - The importance of focusing on people and their growth potential is highlighted as a key lesson from past investment experiences, with a shift towards valuing human factors in technology-driven sectors [35][36]. - The AI investment landscape is characterized by a shorter window for identifying potential winners, with expectations that promising AI companies will emerge by the end of 2026 [37][38]. Group 6: Future Predictions - The future of AI is expected to bring about significant changes, with AI surpassing human capabilities in various fields, leading to a redefinition of industry standards [44][45]. - The relationship between humans and AI is anticipated to evolve, emphasizing the importance of understanding human nature and societal complexities in the AI era [46][47].