China (PRC) | Technology Equity Research China AI in a Global Context — A Global "Power" Struggle 1) GOOG's Gemini 3 overtook GPT5 to be No 1 in model performance. 2) Moonshot's Kimi K2 overtook MiniMax M2 as the best-performing LLM in China, only 8% < Gemini 3. 3) ZTE launched a smartphone powered by ByteDance's Doubao Mobile Assistant, a good demo of how AI could enhance a smartphone but commercial success unlikely. 4) The US allows NV H200 chips to be sold to China but if China wants it is uncertain. We ...

Chinese artificial intelligence start-up MiniMax plans to channel funds from its proposed Hong Kong initial public offering (IPO) into research and development as it seeks to compete with global and domestic rivals, according to a person familiar with the matter. With 70 per cent of its revenue generated overseas, MiniMax was targeting Hong Kong's international investor base and capital market, the person said. The Shanghai-based firm, backed by Alibaba Group Holding and Tencent Holdings, was aiming for ...

Chinese OpenAI challenger Zhipu has hit a key revenue milestone and grown users of its fledgling AI development tools business https://t.co/y6M0vl0QNy ...

Summary of Key Points from the Conference Call Industry Overview - The conference focused on the advancements in the AI industry, particularly highlighted during the World Artificial Intelligence Conference (WAIC) 2025, emphasizing the evolution of AI infrastructure and model capabilities [1][7]. Core Insights - **AI Supply Chain Enhancements**: The AI supply chain is increasingly centered on improved AI infrastructure, with notable examples like Huawei's SuperPod achieving 300 PFLOPs performance [1]. - **AI Model Upgrades**: New AI models are being developed with enhanced multi-modal, agentic, and reasoning capabilities, aimed at improving efficiency and reducing costs associated with AI training and inferencing [1][7]. - **Product Launches**: Several new AI products were launched at WAIC, including: - **AI Models**: Companies like Sensetime and Zhipu introduced models with significant upgrades, such as Sensetime's SenseNova V6.5, which boasts a 5x increase in inferencing efficiency [6][7]. - **AI Agents**: New AI agents were introduced by companies like Kingsoft Office and Midu, focusing on complex context understanding and task execution [1][10]. - **Industry-Specific AI Solutions**: Partnerships between AI model/app suppliers and industry vendors are being formed to create customized AI solutions for sectors like automotive and healthcare [1]. Notable Product Highlights - **SenseNova V6.5**: Offers multi-modal capabilities and 5x higher inferencing efficiency compared to its predecessor [6]. - **iFlytek X1**: Enhanced capabilities in mathematics and translation [6][14]. - **Zhipu GLM 4.5**: An open-source model designed for AI agents, featuring improved coding and inferencing capabilities [6][9]. - **Midu V Assistant 2.0**: A full-flow public opinion analysis tool [6][10]. - **Datagrand AI Agents**: Four new AI agents for auditing, Q&A, form filling, and data summarization [10]. Additional Insights - **Cost Efficiency**: A significant focus remains on lowering the costs associated with AI training and inferencing, which is crucial for vendors to maintain competitive pricing [7]. - **Market Trends**: The trend of more software suppliers entering the AI agent space indicates a growing market for AI-driven solutions that enhance business operations [10]. Conclusion - The advancements in AI technology showcased at WAIC 2025 reflect a robust growth trajectory in the industry, with significant innovations aimed at improving efficiency and reducing costs. The collaboration between AI model developers and industry-specific vendors is likely to drive further growth and customization in AI applications across various sectors [1][10].

Zhipu is releasing its biggest open-source model to date, joining a growing number of Chinese firms ramping up their free artificial intelligence offerings https://t.co/CQSV7rnGgL ...

Chinese AI startup Zhipu is considering shifting its planned IPO to Hong Kong instead of mainland China, sources say, adding to a dealmaking boom in the city https://t.co/i12yxdwTyI ...