AI破晓前，最早动身的人

Core Viewpoint - The article discusses the evolving landscape of AI investment in China, highlighting the shift from merely "catching up" to establishing a unique innovation path driven by domestic capabilities and market conditions [6][11]. Group 1: Investment Trends - BlueRun Ventures has been actively investing in various AI sectors, including foundational models, embodied intelligence, and AI hardware, creating a systematic investment map [5][14]. - The firm emphasizes the importance of open-source models and their cost-effectiveness, which fosters rapid iteration and application development [9][10]. - The investment strategy is centered around five key trends, including the rise of open-source large language models, reinforcement learning, and the development of autonomous systems [9][10]. Group 2: Market Dynamics - China's economic structure is undergoing a transformation, with technology-driven growth becoming the new mainline, supported by increasing domestic demand and consumption [7][8]. - The competition between Chinese AI entrepreneurs and their U.S. counterparts is characterized by a dual-track approach, leveraging open-source ecosystems and diverse application scenarios [7][8]. - The emergence of successful Chinese AI products, such as DeepSeek, signifies a shift towards independent innovation and global competitiveness [8][11]. Group 3: Talent and Ecosystem - The density of talent, particularly in AI and related fields, is crucial for the success of new ventures, with a notable influx of young, highly educated entrepreneurs returning to China [13][16]. - BlueRun Ventures has established a supportive ecosystem for entrepreneurs, including initiatives like Boomi ng Camp and Boomi ng Hub, to foster collaboration and innovation [18][19]. - The firm believes that the future of AI investment lies in early-stage opportunities, emphasizing the importance of independent thinking amidst market noise [19][20].