China AI Index
Your go-to intelligence source for China's AI ecosystem
China AI Index
Your go-to intelligence source for China's AI ecosystem
Companies
Alibaba Alibaba
Ant Group Ant Group
Baidu Baidu
ByteDance ByteDance
Cambricon Cambricon
DeepSeek DeepSeek
Huawei Huawei
iFlyTek iFlyTek
MiniMax MiniMax
Moonshot AI Moonshot AI
Pony.ai Pony.ai
StepFun StepFun
Tencent Tencent
Newsfeed · Live Oct 22, 2026
Compare
2022
2027
DeepSeek $22.1B
Moonshot AI $8.2B
Zhipu AI (Z.ai) $10.8B
CUMULATIVE RAISED · FEATURED
Products
ByteDance Doubao (豆包) 344.9M MAU
RedNote (Xiaohongshu) Xiaohongshu (小红书) 300M+ MAU
Alibaba Qwen (千问) 165.6M MAU
DeepSeek DeepSeek 127.1M MAU
Tencent Tencent Yuanbao (元宝) 57.4M MAU
NEWSFEED · LIVE SYNCED 03:28 PM
OCT 22, 2026 8 stories
Unitree Robotics
Unitree developing AI system to let humanoid robots improve themselves
Unitree Robotics
South China Morning Post ↗
DeepSeek
DeepSeek reportedly raises $15B days after US restrictions
FundingDeepSeek
TechCrunch ↗
DeepSeek
‘Jensen’s nightmare’: Huawei, DeepSeek narrow AI chip ecosystem gap with Nvidia: report
PolicyDeepSeek
South China Morning Post ↗
Chinese AI Startup DeekSeek Raises $15 Billion Ahead of Potential IPO
Funding
WSJ ↗
China's Payment Push Reaches CATL
Hello China Tech ↗
DeepSeek
DeepSeek wrapping up $15 billion fundraising to fuel AI race
FundingDeepSeek
Reuters ↗
DeepSeek
DeepSeek Raises $15 Billion in Challenge to Leading US Labs
FundingDeepSeek
Bloomberg ↗
Unitree Robotics
China’s Unitree unveils ‘guardian’ robot that can disarm attackers, lift cars
Unitree Robotics
South China Morning Post ↗
OCT 21, 2026 12 stories
Top Democrat says chip restrictions are ‘key lever’ for US AI edge over China
Policy
South China Morning Post ↗
CXMT
Micron won't pursue 4F-squared memory chips despite CXMT's advance: CTO
PolicyCXMT
Nikkei Asia ↗
✅China’s Draft AI Export Controls Don’t Block Open-Weight Models
Policy
Recode China AI ↗
DeepSeek
Washington’s DeepSeek ban may deter US firms from adopting Chinese AI models: experts
PolicyDeepSeek
South China Morning Post ↗
DeepSeek
DeepSeek ban forces US firms to rethink using Chinese AI, experts say
PolicyDeepSeek
South China Morning Post ↗
MOFCOM's New Rules and the Future of Chinese AI
ChinaTalk ↗
Unitree Robotics
Unitree Robotics unveils a bodyguard robot capable of lifting the front of a car
Unitree Robotics
South China Morning Post ↗
Chinese mathematician Sun Zhiwei proposes 1,000 problems to challenge AI
South China Morning Post ↗
Chinese AI Tool Linked to Hacks in Japan
WSJ ↗
Xiaomi
China AI researcher rises to Xiaomi’s top level in 10 months, talks work-life balance
ResearchXiaomi
South China Morning Post ↗
China’s Robot Makers Fund Their Own Supply Chain
Funding
Hello China Tech ↗
Moonshot AI
China's Moonshot AI to operate in Singapore, jobs post shows
Moonshot AI
Reuters ↗
This Week
Items95
Companies11
Rounds11
Last sync03:28 PM
Most Active · This Week
DeepSeek DeepSeek 31
CXMT CXMT 6
Unitree Robotics Unitree Robotics 3
Zhipu AI (Z.ai) Zhipu AI (Z.ai) 3
Newsletter
Recode China AI
Weekly intelligence on China's AI ecosystem, from Tony Peng — straight to your inbox.
ZH
Zhipu AI (Z.ai)
PUBLIC — 2513.HK BEIJING EST. 2019 1,000+ STAFF
Zhipu AI is a Beijing-based AI lab spun out of Tsinghua University in 2019, and the world's first large language model company to list on a public exchange, debuting on the Hong Kong Stock Exchange in January 2026. Its GLM model family ranks among the top open-weight models globally on reasoning, coding, and agentic benchmarks.
2513.HK Price
HK$460.80
Market Cap
~$26.3B USD
GLM-5.3-Flash Multimodal Open
Zhipu's first natively multimodal GLM-5 model, 320B total/18B active, KDA+MLA hybrid attention, mHC adopted, tested anonymously as ox-alpha on OpenCode and OpenRouter
AA Intelligence Index42/100
HLE (with tools)55.3/100
Terminal-Bench 2.184.3/100
Context1M
Input $0.075/1M tokens
Output $0.25/1M tokens
View Docs ↗
GLM-5.3 Text Open
Post-trained on the same 744B GLM-5.2 base; built for agentic coding & cyber defense; open weights/API pricing to follow after safety review
AA Intelligence Index34/100
DeepSWE v1.166.9/100
Terminal-Bench 3.028.3/100
Context1M
Input $1.40/1M tokens
Output $4.40/1M tokens
View Docs ↗
GLM-5.2 Text Open
753B params; Rolled out to all GLM Coding Plan tiers (Lite/Pro/Max/Team); standalone API + MIT open weights
AA Intelligence Index51/100
FrontierSWE74.4/100
FrontierSWE74.4/100
Context1M
Input $1.40/1M tokens
Output $4.40/1M tokens
View Docs ↗
GLM-5.1 Text Open
754B flagship — top scores on AIME 2026 (95.3) and GPQA-Diamond (86.2); strong agentic and coding ability
AIME 202695.3/100
GPQA-Diamond86.2/100
SWE-Bench Pro58.4/100
Context200K
Input $0.98/1M tokens
Output $3.08/1M tokens
View Docs ↗
GLM-5 Text Open
754B MoE (40B active); 28.5T token pre-training; top-tier SWE-bench score of 77.8
SWE-bench77.8/100
GPQA-Diamond86/100
AIME 202692.7/100
Context200K
Input $1.40/1M tokens
Output $4.40/1M tokens
View Docs ↗
2513.HK Price
HK$460.80
HKEX · 2026-10-22
Market Cap
~$26.3B USD
HKEX · 2026-10-22
Total Raised
$10.79B
VC rounds + IPO proceeds (Jan 2026)
AI ARR
$1.6B
as of 2026-08
2022-01
Angel¥20.37M (~$3M)
Innovation Zhiyuan
2022-05
Series A¥152M (~$22M)val $125M
Tongzhi InvestmentsFortune CapitalHuakong CapitalRongpin InvestmentsJiangmen Venture CapitalLuster LightTechTuring VenturesCaizhi Chuangying
2023-02
Series B1¥208M (~$31M)
Legend CapitalQiming Venture Partners
2023-08
Series B2¥410.11M (~$60M)val $500M
MeituanLegend CapitalHuakong CapitalQiming Venture PartnersFortune Capital
2024-01
Series B3¥608.97M (~$90M)
Capital TodayAnt GroupLegend CapitalHuakong Capital
2024-08
Series B4¥1,228.81M (~$181M)val $1B
TencentTAL EducationLei JunAnt GroupHuakong CapitalQiming Venture PartnersSocial Security Zhongguancun Innovation Fund
2024-11
Series B5¥1,358.93M (~$200M)val $1.96B
Prosperity7 (Aramco)Ant GroupBeijing AI Industry FundLegend CapitalChina Mobile 5G FundLianrong Capital
2024-12
Series B6¥4,377M (~$644M)val $2.94B
Zhongguancun Science CityDaxing Industrial FundHangzhou ChengtouChengdu High-techBeijing AI Industry FundZhuhai Huafa GroupLenovoLegend CapitalSocial Security Zhongguancun Innovation Fund
2026-01
IPOHK$4.35B (~$558M)val $3.58B
2026-07-08
Share Sale$4B
2026-09-11
Share Sale and Convertible Bond Sales$5B
↗ Source: HKEX Prospectus — Knowledge Atlas Technology
Free desktop Agentic Development Environment built around Z.ai's GLM-5.2 model, launched for macOS/Windows/Linux to challenge Cursor, Claude Code, and GitHub Copilot; supports bring-your-own-key configs and includes launch promos (50% quota boost, 5M free tokens).
AI codingIDEagentic codingGLM-5.2
Zhipu AI's flagship consumer assistant powered by GLM-5. Supports multimodal input (text, image, file), AI drawing via CogView, video generation via CogVideo, web search, and plugin extensions. Available on web and mobile.
ChatConsumerMultimodal
Agentic AI system that autonomously operates Android device UIs to complete real-world tasks — booking, browsing, form-filling — without human intervention. Built on GLM and phone-use reinforcement learning.
AgentAutomationMobile
Zhipu's open-source image and video generation model family. CogView handles text-to-image; CogVideoX handles high-quality text-to-video and image-to-video. Both released under Apache 2.0.
Image GenVideo GenOpen Source
Zhipu AI (Z.ai)
Z.AI Founds Worked with Accused Chinese Spy Group
Zhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
Who is Yuki Chen, China’s ‘superstar’ hacker who just joined AI leader Z.ai?
Zhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Z.AI Founders Worked on Research Funded by China Institute UK Tied to Spies
FundingZhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
Z.ai’s GLM-5.3 raises researcher fears the Chinese model can fake AI safety tests
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Anthropic raises alarm over elite hacking ability of Chinese firm Z.ai’s GLM-5.3
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Alibaba
Z.ai open-sources ZCode after coding tool silently uploaded user data
Chinese AI firm Z.ai (formerly Zhipu) apologized after its ZCode coding tool was found silently uploading full developer workspaces, including Git commit histories, to Alibaba Cloud servers without user consent or an opt-out option. Only Z.ai held the decryption keys. After third-party audits from CAICT and NSFOCUS confirmed the data was deleted, the company open-sourced the ZCode project, though the removed commit history limited independent verification.
PolicyAlibaba
The Information ↗
Zhipu AI (Z.ai)
Chinese AI firm Z.ai faces reputation hit after unauthorised uploads
Zhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
China’s Z.ai raises revenue target 25% after US$5 billion cash injection
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Alibaba
Z.AI’s Cash Burn Drives Alibaba-Like HK Fundraising Spree
FundingAlibaba
Bloomberg ↗
Zhipu AI (Z.ai)
Seeking cash for AI, China’s Z.ai eyes new US$5b fundraising push after July share sale
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Z.ai’s fresh US$5b fundraising push comes hot on the heels of July capital raise
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
China AI developer Z.AI launches $5 billion Hong Kong share, convertible bond sales, term sheet shows
FundingZhipu AI (Z.ai)
Reuters ↗
DeepSeek
DeepSeek’s New Low-Cost Model Deals a Fresh Blow to OpenAI, Z.ai
ModelDeepSeek
Bloomberg ↗
MiniMax
Are Chinese AI stars Z.ai and MiniMax stuck in losses through 2030?
MiniMax
South China Morning Post ↗
Moonshot AI
China’s Moonshot and Z.ai bring AI model subscription race to Tmall’s retail shelves
ModelMoonshot AI
South China Morning Post ↗
DeepSeek
Chinese shoppers can now buy AI subscriptions from DeepSeek and Z.ai on Tmall
DeepSeek
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu Added Time to Its Equation
Zhipu AI (Z.ai)
Hello China Tech ↗
MiniMax
Do Z.ai and MiniMax face different financial fates months after Hong Kong IPOs?
MiniMax
South China Morning Post ↗
Zhipu AI (Z.ai)
Chinese AI Model Firm Z.ai’s API Sales Surge in First Half
ModelZhipu AI (Z.ai)
The Information ↗
Zhipu AI (Z.ai)
Chinese AI firm Z.ai posts 400% revenue jump as total losses narrow
Zhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu AI first-half revenue grows 400%
Zhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
Z.AI Sales Miss Estimates After China’s AI Price War Weighs
Zhipu AI (Z.ai)
Bloomberg ↗
DeepSeek
🗞️Z.ai Claims the Mystery Model, DeepSeek’s $74B Valuation, and Beijing’s Robot Olympics
FundingDeepSeek
Recode China AI ↗
Tencent
Tencent Touts New AI Model It Claims Outperforms Z.AI, Moonshot
ModelTencent
Bloomberg ↗
Zhipu AI (Z.ai)
Zhipu AI shares jump as viral Ox Alpha model revealed as GLM-5.3-Flash on Chinese chips
PolicyZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu’s viral Ox Alpha AI model runs entirely on Chinese chips
PolicyZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Z.ai shares surge 8% after releasing new AI model running only on Chinese chips
PolicyZhipu AI (Z.ai)
CNBC ↗
DeepSeek
China’s Z.AI Made Ox Alpha Stealth Model That Rivals DeepSeek
ModelDeepSeek
Bloomberg ↗
Zhipu AI (Z.ai)
The Mistral paradox: Europe’s push for tech sovereignty relies on China’s Z.ai
Zhipu AI (Z.ai)
South China Morning Post ↗
DeepSeek
Alibaba’s lightweight Qwen model takes on larger AI systems from OpenAI, DeepSeek, Zhipu
ModelDeepSeek
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu AI’s answer to Project Glasswing marks shift for Chinese cyber safety: researcher
ResearchZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
The Powerful Chinese AI Model Experts Warned About—and Waited for—Is Here
Chinese AI company Z.ai (Zhipu AI) released GLM-5.3, an open-weight model it says nears or exceeds Anthropic's and OpenAI's top models on cybersecurity and coding benchmarks; the company is staging a limited rollout over concerns the model could be used for hacking.
Model releaseZhipu AI (Z.ai)
WIRED ↗
Zhipu AI (Z.ai)
China's Z.ai launches model it says rivals Anthropic's Mythos
Chinese AI startup Zhipu (Z.ai) released its flagship GLM-5.3 model with enhanced coding and security capabilities, saying it beat Anthropic's frontier Mythos 5 model on a key cybersecurity benchmark.
ModelZhipu AI (Z.ai)
Nikkei Asia ↗
Zhipu AI (Z.ai)
Zhipu launches GLM-5.3 model as China seeks Mythos-level edge in cyber defence
ModelZhipu AI (Z.ai)
South China Morning Post ↗
Alibaba
From CXMT to Zhipu AI, Alibaba’s strategic investments are paying off
FundingAlibaba
South China Morning Post ↗
Zhipu AI (Z.ai)
China’s Zhipu AI model contains hack after OpenAI models go rogue
ModelZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
China’s Zhipu AI Builds Data Center Using Only Domestic Chips
PolicyZhipu AI (Z.ai)
The Information ↗
Zhipu AI (Z.ai)
Z.AI to Use Only Chinese AI Chips at New Giant Data Center
Zhipu completed a giant data center built and trained entirely on domestic Chinese AI chips, part of the company's push toward chip self-reliance.
ProductZhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
Z.AI on Track for $1 Billion Annual Sales in China's Competitive AI Market
Zhipu's Z.AI is on pace to be the first Chinese AI lab to reach $1 billion in annualized sales, extrapolated from its July revenue run rate.
Zhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
China’s Zhipu AI defies market slump with pursuit of AGI over quick profits
Zhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
China's Zhipu AI, developer of GLM-5.2, defies slump as it pursues AGI over quick profits
Zhipu is prioritizing a long-term pursuit of artificial general intelligence over near-term profitability, even as parts of China's AI stock rally cooled.
Zhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu AI and Iluvatar CoreX soar after launching Hong Kong share sales
ModelZhipu AI (Z.ai)
South China Morning Post ↗
DeepSeek
Why Chinese AI labs like DeepSeek and Zhipu are looking beyond models to chips
PolicyDeepSeek
South China Morning Post ↗
Zhipu AI (Z.ai)
China’s Zhipu AI Shares Surge on $4 Billion Fundraising
FundingZhipu AI (Z.ai)
WSJ ↗
Zhipu AI (Z.ai)
China's Zhipu AI raises $4 billion in Hong Kong share sale, source says
FundingZhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
AI Firm Zhipu to Raise $4 Billion With Hong Kong Share Offering
Zhipu moved to raise about $4 billion in a Hong Kong secondary share offering, pricing shares at HK$1,588 to HK$1,698 each after its stock's roughly 1,500% rally.
FundingZhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
China’s AI Lab Zhipu Weighs Custom Chip As Demand for its GLM Model Soars
PolicyZhipu AI (Z.ai)
The Information ↗
MiniMax
Zhipu AI, MiniMax shares to test Hong Kong market as lock-ups end
MiniMax
South China Morning Post ↗
Zhipu AI (Z.ai)
Mainland investors buy more Hong Kong shares, favour SMIC, Zhipu AI
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu AI’s new tool turns GLM-5.2 into agent amid Anthropic rivalry
ModelZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
🤖Zhipu AI Chief Scientist Tang Jie: Making Machines Think Like Humans
Zhipu AI (Z.ai)
Recode China AI ↗
Zhipu AI (Z.ai)
China’s Z.ai claims it can match Mythos on cybersecurity
Zhipu AI (Z.ai)
The Verge ↗
DeepSeek
China’s Zhipu AI sparks new ‘DeepSeek moment’ in Silicon Valley
DeepSeek
South China Morning Post ↗
Zhipu AI (Z.ai)
China's Zhipu is closing in on top U.S. AI models with Anthropic and OpenAI held back
Zhipu's open-source GLM models are closing the performance gap with leading US labs, even as Anthropic and OpenAI face restrictions operating in China.
ModelZhipu AI (Z.ai)
CNBC ↗
Zhipu AI (Z.ai)
After Anthropic shutdown, China's Z.ai closes frontier gap as it plans dual listing
Zhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
Zhipu Considers Multibillion-Dollar Share Sale in Hong Kong After 2,000% Gain
Zhipu was considering a multibillion-dollar Hong Kong share sale after its stock price rose roughly 2,000% since its January listing.
FundingZhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
Anthropic’s AI blackout gives Zhipu GLM-5.2 a chance to shine
Zhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu AI market cap tops HK$1 trillion after GLM-5.2 release
ModelZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
China to match Anthropic’s top AI model in 2026, Zhipu founder tells Musk
ModelZhipu AI (Z.ai)
South China Morning Post ↗
MiniMax
Zhipu Soars 33%, Minimax Stumbles as China's AI Stocks Diverge
Zhipu's Hong Kong shares surged 33% as investors rewarded state-backed AI labs with recurring revenue over consumer-facing peers; Bank of America initiated coverage with buy ratings, targeting Zhipu at HK$1,250 and MiniMax at HK$500.
MiniMax
Nikkei Asia ↗
DeepSeek
Can Open-Source Beat OpenAI? Inside China's AI Cost Advantage
Former Hugging Face Asia-Pacific head Tiezhen Wang argues China's open-source labs — DeepSeek, Kimi, MiniMax, Zhipu — hold a structural cost and monetization advantage over closed US models, and are pulling enterprise customers at scale as US model access tightens.
ModelDeepSeek
Rest of World ↗
Zhipu AI (Z.ai)
Zhipu AI’s stock rockets after Chinese firm launches GLM-5.2 model
ModelZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu surges 33% as Wall Street raises bets on China AI after Anthropic curbs
FundingZhipu AI (Z.ai)
CNBC ↗
Zhipu AI (Z.ai)
Zhipu Shares Surge 48% After JPMorgan Raises Price Target
FundingZhipu AI (Z.ai)
Bloomberg ↗
MiniMax
Zhipu soars and Minimax stumbles as China's AI stocks diverge
MiniMax
Nikkei Asia ↗
MiniMax
👐🏻As Anthropic Tightens Access, Chinese AI Labs Open Their Models
How MiniMax, Zhipu, and Moonshot capitalized on the sudden U.S. ban on Anthropic's Mythos & Fable models by releasing M3, GLM-5.2, and K2.7-Code.
MiniMax
Recode China AI ↗
MiniMax
Zhipu vs MiniMax: what’s driving the widening valuation gap in Hong Kong
FundingMiniMax
South China Morning Post ↗
MiniMax
Hong Kong tech gauge welcomes MiniMax, Zhipu in AI milestone amid slump
MiniMax
South China Morning Post ↗
MiniMax
Zhipu, MiniMax prep Shanghai listings: Why China's AI firms are moving back to the mainland
MiniMax
CNBC ↗
MiniMax
Minimax and Zhipu aim to further tap China's AI fever with dual listings
MiniMax
Nikkei Asia ↗
MiniMax
China AI firms Zhipu, MiniMax to join Hong Kong’s Hang Seng Tech Index
Chinese AI firms MiniMax Group and Knowledge Atlas Technology – better known as Zhipu AI – will join the Hang Seng Tech Index next month.
MiniMax
SCMP ↗
MiniMax
Zhipu, Minimax Seen Joining HK Tech Gauge, Luring More AI Bets
MiniMax
Bloomberg ↗
ByteDance
China’s Alibaba, ByteDance and Zhipu AI make the cut on Time’s first AI A-list
ByteDance
South China Morning Post ↗
Zhipu AI (Z.ai)
China’s Zhipu AI open-sources GLM-5.1, raises prices to trim gap with US rivals
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Podcast: Z.ai, inside one of China's top AI companies
Zhipu AI (Z.ai)
High Capacity ↗
MiniMax
What Zhipu and MiniMax’s first post-IPO earnings say about the 2 AI start-ups
FundingMiniMax
South China Morning Post ↗
Zhipu AI (Z.ai)
Shares of China AI 'tiger' Zhipu surge 35% after revenue doubles in first earnings report
Zhipu AI (Z.ai)
CNBC ↗
Zhipu AI (Z.ai)
Zhipu AI revenue jumps 132% in first post-IPO report, missing estimates
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu accelerates pivot to domestic chips amid AI boom in China
PolicyZhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
Zhipu AI’s shares tumble nearly 23% on computing woes, user complaints
ProductZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
DeepSeek Didn't Show Up—GLM-5 and Qwen3.5 Did, and They Came to Win
With DeepSeek quiet, Zhipu AI's GLM-5 and Alibaba's Qwen3.5 took center stage, proving Chinese models remain within months of the global frontier even without their most celebrated lab.
GLM-5Zhipu AIQwen3.5AlibabaModel ReleaseBenchmark
Recode China AI ↗
Zhipu AI (Z.ai)
China’s Zhipu AI launches new major model GLM-5 in challenge to its rivals
ModelZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Chinese AI startup Zhipu releases new flagship model GLM-5
ModelZhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
Zhipu leads rally in Chinese AI stocks, surging 30% as a wave of new releases hits market
ModelZhipu AI (Z.ai)
CNBC ↗
DeepSeek
DeepSeek boosts AI model with 10-fold token addition as Zhipu AI unveils GLM-5
ModelDeepSeek
South China Morning Post ↗
Zhipu AI (Z.ai)
Computing constraints force China’s Zhipu to restrict AI coding service sign-ups
ProductZhipu AI (Z.ai)
South China Morning Post ↗
DeepSeek
Zhipu AI's Deepseek-like breakout
DeepSeek
CNBC ↗
Zhipu AI (Z.ai)
Zhipu AI breaks US chip reliance with first major model trained on Huawei stack
PolicyZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu AI and MiniMax Just Went Public, But They're Not China's OpenAI
Despite research pedigrees and frontier AI ambitions, the public disclosures of both companies reveal uncomfortable truths about the commercial challenges of operating AI startups in China.
Zhipu AIMiniMaxIPOHong KongBusiness ModelPublic Markets
Recode China AI ↗
Zhipu AI (Z.ai)
Chinese AI Firm Zhipu Makes Lukewarm Trading Debut
Zhipu AI (Z.ai)
WSJ ↗
Zhipu AI (Z.ai)
China’s OpenAI Rival Zhipu Debuts in HK After $558 Million IPO
FundingZhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
The first of China’s 'AI tigers' goes public as Zhipu climbs in Hong Kong debut
Zhipu AI (Z.ai)
CNBC ↗
Zhipu AI (Z.ai)
China’s Zhipu Says AI Price War Will Spread Internationally
Zhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
China’s Zhipu AI launches US$560 million share sale amid heated IPO tech race
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu AI ramps up push towards human-level AI, reiterates open source pledge
ModelZhipu AI (Z.ai)
South China Morning Post ↗
MiniMax
China’s Zhipu and MiniMax release latest AI models ahead of Hong Kong listing
ModelMiniMax
South China Morning Post ↗
Zhipu AI (Z.ai)
Chinese AI ‘tiger’ Zhipu moves closer to US$300 million Hong Kong listing
FundingZhipu AI (Z.ai)
South China Morning Post ↗
MiniMax
Chinese AI Unicorns MiniMax and Zhipu Said to Target Hong Kong IPOs Soon
MiniMax
Bloomberg ↗
Zhipu AI (Z.ai)
Zhipu Grows Revenue and Users on Path to China’s First AI IPO
FundingZhipu AI (Z.ai)
Bloomberg ↗
Zhipu AI (Z.ai)
Exclusive | Zhipu AI sees tenfold surge in foreign users as Chinese AI gains traction
ProductZhipu AI (Z.ai)
South China Morning Post ↗
DeepSeek
DeepSeek and Z.AI Bet on Visual Compression to Solve Long-Context Problem
DeepSeek and Zhipu's Z.AI explore whether rendering long documents as images and compressing them with vision-language models can slash the compute cost of processing extended contexts.
DeepSeekZ.AILong ContextVision LLMResearchCompression
Recode China AI ↗
Zhipu AI (Z.ai)
China's Zhipu AI says full artificial superintelligence unlikely by 2030
Zhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
OpenAI: Zhipu AI is fuelling China’s global push for US tech alternatives
Zhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
OpenAI says China's Zhipu AI gaining ground amid Beijing's global AI push
FundingZhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
Chinese AI stalwart Zhipu eyes expansion on back of Belt and Road Initiative
Zhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
Zhipu AI ramps up overseas expansion strategy ahead of IPO
FundingZhipu AI (Z.ai)
Reuters ↗
DeepSeek
China AI unicorn Zhipu eyes IPO filing this year after DeepSeek’s success
FundingDeepSeek
South China Morning Post ↗
Zhipu AI (Z.ai)
China's Zhipu AI takes initial steps to an IPO
FundingZhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
China's Zhipu AI launches free AI agent, intensifying domestic tech race
ModelZhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
US-blacklisted Zhipu AI gets fresh funding from Chinese state firm
FundingZhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
China's Zhipu AI raises $137 million as state funds bet on AI race
FundingZhipu AI (Z.ai)
Reuters ↗
Zhipu AI (Z.ai)
What is Zhipu AI?
Zhipu AI (Z.ai)
The Wire China ↗
Alibaba
Alibaba's QwQ Reasoning Model, Zhipu's GLM-PC Agent, and New US Chip Restrictions
Alibaba releases QwQ, an o1-style reasoning model beating OpenAI's o1-preview on math; Zhipu AI launches GLM-PC for computer operation; and the US prepares tighter chip rules targeting China.
AlibabaQwQReasoningZhipu AIGLM-PCAgentExport Controls
Recode China AI ↗
Zhipu AI (Z.ai)
Chinese unicorn Zhipu AI raises US$210 million to invest in start-ups
FundingZhipu AI (Z.ai)
South China Morning Post ↗
Zhipu AI (Z.ai)
China’s Zhipu AI says its app can operate your smartphone for you
ProductZhipu AI (Z.ai)
South China Morning Post ↗
Ant Group
Inside Tencent Hunyuan, Ant's Financial LLM, and Zhipu AI's Rising Valuation
A roundup of three major China AI developments: Tencent's Hunyuan LLM reduces hallucinations by 30–50% and integrates across 50+ internal products; Ant Group launches a specialized Financial LLM for consumer and professional use; and Zhipu AI's valuation surpasses RMB 10 billion following a funding round led by Meituan.
Ant GroupTencentHunyuanFinancial LLMZhipu AIFunding
Recode China AI ↗
Zhipu AI (Z.ai)
China's Baichuan, Zhipu AI launch AI models after receiving approval
ModelZhipu AI (Z.ai)
Reuters ↗
Tang Jie
Tang Jie
唐杰
Co-founder & Chief Scientist
@jietang_jie
Zhang Peng
Zhang Peng
张鹏
CEO & Co-founder
Reference Table
All Models
Compare models across all 50 Chinese AI companies
Company ↕
Model ↕
Type ↕
AA Score ↕
Released ▼
Context ↕
Input ↕
Output ↕
DeepSeekDeepSeek
Update to V4.1-Flash; MIT weights released; benchmark scores are first-party reports using Mini-SWE-V2 for DeepSWE and Claude Code for Terminal-Bench.
Multimodal
—
2026-10-17
1M
$0.15/1M tokens
$0.60/1M tokens
TencentTencent
Long-term-memory writer model with approximately 3B active parameters; released alongside Hy Memory 2.0 under Apache 2.0; designed for external memory frameworks.
Text
—
2026-10-16
—
—
—
StepFunStepFun
Open-weight release of the September-announced model; 600B total and 27B active parameters; BF16 and FP8 checkpoints released under the StepFun Model License.
Multimodal
44/100
2026-10-15
1M
$1.00/1M tokens
$2.70/1M tokens
KuaishouKuaishou
Kling 4.0 Closed
Formal rollout following September early access; native generation up to 30 seconds and HDR capabilities; specifications are company-reported and feature availability varies.
Video Gen
2026-10-15
—
—
—
Ant GroupAnt Group
560B-param MoE (~25B active) from Ant's InclusionAI; targets agents, search, office tasks; 2-week free trial capped at 256K context; open weights planned after trial, not yet on Hugging Face
Text
41/100
2026-09-30
1M
$0.075/1M tokens
$0.225/1M tokens
KuaishouKuaishou
Early access for Ultra Yearly subscribers; 30s native clips, up to 15 multimodal refs/10 keyframes, 4K 10-bit HDR planned; full Kling 4.0 launch slated for Oct 2026 as Kling spins out toward a Hong Kong IPO
Video Gen
2026-09-28
—
—
—
AlibabaAlibaba
Compact embedding model init. from Qwen3.5-2B for constrained serving; Apache 2.0
Multimodal
—
2026-09-26
—
—
—
MeituanMeituan
1.6T/48B-active MoE; adds native image understanding to LongCat's coding/agent strengths; API preview only, no open weights yet, free via OpenCode
Multimodal
—
2026-09-25
1M
$0.30/1M tokens
$1.20/1M tokens
AlibabaAlibaba
Universal text/image/doc/video/audio embedding model (Alibaba ATH MaaS), init. from Qwen2.5-Omni-3B; Apache 2.0, weights open-sourcing soon
Multimodal
—
2026-09-23
—
—
—
Ant GroupAnt Group
6B text-rich design image model, native RGBA output, #1 open-weight model on Artificial Analysis UI/UX leaderboard; MIT license. Flagged by @AdinaYakup — not on tracked company list
Image Gen
2026-09-22
—
—
—
TencentTencent
Professional image-gen preview, 30% higher human-eval win rate vs Hy Image 3.0; on par with Seedream 5.0 Pro; API-only, $0.024/image
Image Gen
2026-09-22
—
—
—
XiaomiXiaomi
309B/15B MoE high-throughput omnimodal variant; MIT license
Multimodal
—
2026-09-22
1M
$0.14/1M tokens
$0.28/1M tokens
XiaomiXiaomi
102B/42B MoE omnimodal flagship; ties Grok 4.7 on Artificial Analysis Intelligence Index, beats Claude Opus 5 on key benchmarks; MIT license
Multimodal
46/100
2026-09-22
1M
$0.435/1M tokens
$0.87/1M tokens
AlibabaAlibaba
7B open-weights unified text-to-image + editing model; native transparent (RGBA) output; up to 10 reference images
Image Gen
2026-09-20
—
—
—
Shengshu TechnologyShengshu Technology
Vidu S2 Closed
Real-time interactive digital-character model (resolution up to 720p from 540p in S1) plus real-time video-editing model; also previewing VR spatial video generation; credit-based API pricing (~$0.05/credit)
Video Gen
2026-09-15
—
—
—
DeepSeekDeepSeek
New Causal Encoder-Decoder architecture (552B MoE, 8B/16B active); claimed to beat flagship V4-Pro on performance/cost/speed; replaces V4-Pro in routing from Sept 14
Multimodal
39/100
2026-09-10
1M
$0.15/1M tokens
$0.6/1M tokens
Ant GroupAnt Group
124B total/5.5B active MoE native image+video multimodal model (understand→reason→act→verify); MIT licensed; flagged by Adina Yakup, org not in the original company list
Multimodal
25/100
2026-09-09
1M
—
—
ModelBestModelBest
2.5B-param on-device/edge model for agentic use (PCs, phones, robotics, IoT); trained with RL+OPD merging 16 expert models; beats larger Qwen3.5-4B on average score; Apache 2.0
Text
—
2026-09-09
128K
—
—
XiaomiXiaomi
Embodied world model with sequence variants for modeling continuous interactions; Apache 2.0; caught via Adina Yakup/HF tracking
Embodied
2026-09-08
—
—
—
XiaomiXiaomi
Smaller/faster sibling of MiMo-X-Pro-Preview in Xiaomi's new agentic MiMo-X series; invite-only preview
Text
—
2026-09-08
1M
—
—
XiaomiXiaomi
Next-gen agentic foundation model (~1T total/42B active MoE) for long-horizon task execution and tool use; invite-only preview via MiMo Desktop app; company claims performance near Claude Opus 4.6 in agent scenarios
Text
—
2026-09-08
1M
—
—
iFlyTekiFlyTek
293B-param (293B-A30B MoE) flagship base model trained entirely on domestic compute; upgraded coding/agent capability; API-only via Xingchen platform, not open-weighted
Text
—
2026-09-07
1M
—
—
Ant GroupAnt Group
Interactive image/video-to-video world model small enough to run on a single consumer GPU; caught via Adina Yakup/HF tracking, not the per-company search
Embodied
2026-09-05
—
—
—
AlibabaAlibaba
First open-weight VLM foundation model for autonomous driving; unifies 3D perception, driving VQA, and motion planning on a Qwen3.5-4B backbone; Apache 2.0
Embodied
2026-09-04
—
—
—
Ant GroupAnt Group
Finance-tuned build of Ling-3.0-flash for investment/agent workflows; 124B total/5.1B active, MIT license; already being quantized for llama.cpp
Text
23/100
2026-08-27
256K
—
—
TencentTencent
770B total/49B active MoE flagship with Gated DeepSeek Sparse Attention; beat GLM-5.3 and Kimi K3 in Tencent's internal blind eval; pitched as open-source coding/agent frontier
Text
—
2026-08-27
1M
$0.83/1M tokens
$2.5/1M tokens
AlibabaAlibaba
180B-parameter/ 6B parameters activated, A GDN + QSA hybrid architecture, muon optimizer adopted, early preview of the architecture used in Qwen4
Multimodal
—
2026-08-26
262K
$0.16/1M tokens
$0.47/1M tokens
Zhipu AI (Z.ai)Zhipu AI (Z.ai)
Zhipu's first natively multimodal GLM-5 model, 320B total/18B active, KDA+MLA hybrid attention, mHC adopted, tested anonymously as ox-alpha on OpenCode and OpenRouter
Multimodal
42/100
2026-08-26
1M
$0.075/1M tokens
$0.25/1M tokens
DeepSeekDeepSeek
Experimental multimodal (vision) variant of V4-Flash; positioned near Claude Opus 4.8 on agent benchmarks; API-only
Multimodal
—
2026-08-21
1M
$0.44/1M tokens
$1.32/1M tokens
SenseTimeSenseTime
Open-sourced 8B unified any-to-any model with native 4K image generation and improved editing
Multimodal
—
2026-08-21
32K
—
—
AlibabaAlibaba
27.78B dense model, Apache 2.0, text/image/video input, agent/coding gains over Qwen3.6-27B
Multimodal
34/100
2026-08-14
262K
$0.40/1M tokens
$3/1M tokens
Zhipu AI (Z.ai)Zhipu AI (Z.ai)
GLM-5.3 Open
Post-trained on the same 744B GLM-5.2 base; built for agentic coding & cyber defense; open weights/API pricing to follow after safety review
Text
34/100
2026-08-14
1M
$1.40/1M tokens
$4.40/1M tokens
MiniMaxMiniMax
Open-weight text-to-music model; generates full songs with sung vocals (up to 5 min) from lyrics + structured caption
Multimodal
—
2026-08-14
—
$0.15 per track
—
DeepSeekDeepSeek
GA release of flagship (was in preview since April); 1.6T total/49B active MoE, agentic gains
Text
36/100
2026-08-13
1M
$0.435/1M tokens
$0.87/1M tokens
AlibabaAlibaba
Faster/distilled 14B character-animation & replacement model from Tongyi Lab, Apache 2.0
Video Gen
2026-08-07
—
—
—
AlibabaAlibaba
Wan 3.0 Closed
Public beta all-in-one video gen/edit model; single continuous shot up to 30s, director-level camera moves, character/scene consistency, and doc/xls/ppt/pdf/md-to-video capability; no open weights (unlike Wan 2.2)
Video Gen
2026-08-06
—
—
—
Ant GroupAnt Group
Lightweight hybrid-reasoning MoE, 7.9B total/1.3B active, runs on Apple Silicon & NVIDIA DGX Spark
Text
15/100
2026-08-06
262K
—
—
ByteDanceByteDance
SeedRealtime Closed
Native audio-visual full-duplex LLM fusing audio/video/text streams for real-time watch, listen, speak interaction; replaces separate ASR/vision/TTS pipeline; live in Doubao app
Multimodal
—
2026-08-05
—
—
—
AlibabaAlibaba
Third-gen image model with ~4.5K-token ultra-long prompts, ~10px fine text rendering, native rendering in 12 languages, dense infographic/document layouts, reference-preserving edits; $0.04/image, API-only
Image Gen
2026-08-05
—
$0.003/image
$0.04/image
XiaomiXiaomi
VLA robot foundation model, Qwen3-VL backbone + Diffusion-Transformer (Mixture-of-Transformers); trained on 100,000+ hrs UMI data plus 7,200+ hrs real-robot data; demoed autonomous laundry folding, washer loading, suitcase packing
Embodied
2026-08-05
—
—
—
AlibabaAlibaba
2.4T MoE, ~95B active/token; text+image+video input; explicit reasoning (low/high/xhigh, xhigh default); flat pricing across full 1M ctx, max output 131K; open weights promised ~mid-Aug 2026 (HF/ModelScope)
Multimodal
45/100
2026-08-03
1M
$2.00/1M tokens
$6.0/1M tokens
RedNote (Xiaohongshu)RedNote (Xiaohongshu)
Lightest model in RedNote HiLab's dots3 series — 280B total / 16B active params (MoE), 512K context, natively understands text, images, and audio. An internal harness built on the model scored a certified perfect 42/42 (IMO gold) at IMO 2026.
Text
—
2026-08
512K
—
—
ByteDanceByteDance
Seedance 2.5 Closed
Native single-shot 30s video generation up to 4K, accepts up to 50 multimodal references; launched head-to-head vs MiniMax H3
Video Gen
2026-07-31
—
—
—
MiniMaxMiniMax
Omni-modal video generator (text/image/video/audio input), up to 15s native 2K video with native stereo audio; open weights planned within days
Video Gen
2026-07-31
—
—
—
DeepSeekDeepSeek
Public-beta API release; retrained V4-Flash beats DeepSeek's own larger V4-Pro-Preview on all 9 published agent/coding benchmarks
Text
34/100
2026-07-31
1M
$0.14/1M tokens
$0.28/1M tokens
SenseTimeSenseTime
Lightweight 8B-MoT open unified multimodal model (NEO-Unify architecture); adds native 4K image generation and stronger instruction-following edits vs prior U1
Image Gen
2026-07-31
—
—
—
HuaweiHuawei
505B-param MoE (18B active), open-sourced with weights, inference code & technical report; trained 100% on Huawei Ascend 910B NPUs
Text
—
2026-07-31
512K
—
—
AlibabaAlibaba
Qwen3.7-Flash Closed
Native vision-language Flash upgrade with stronger object recognition, spatial intelligence, and multimodal agent execution
Multimodal
—
2026-07-25
1M
$0.03/1M tokens
$0.13/1M tokens
Ant GroupAnt Group
124B-param MoE, only 5.1B active/token; hybrid-reasoning combines Ling speed + Ring reasoning; outperforms Ant's own 1T Ling-2.6 on 11/12 benchmarks; API-only (no open weights at launch), free on OpenRouter through 2026-08-03
Text
25/100
2026-07-23
256K
$0.021/1M tokens
$0.063/1M tokens
AlibabaAlibaba
ABot suite Closed
Amap's full-stack embodied AI upgrade: five models for navigation, manipulation, reasoning, memory, and motion control; claims SOTA on 17 benchmarks
Embodied
2026-07-22
—
—
—
TencentTencent
Vision-language-action model trained on 10,000+ hours of data, deployable across different robot platforms
Embodied
2026-07-19
—
—
—
TencentTencent
Perception model for robots; best-in-class on 19 of 38 benchmarks at 1/10th the compute of Tencent's prior flagship
Embodied
2026-07-19
—
—
—
TencentTencent
Reasoning engine for embodied cognition: joint language-visual reasoning, world-state prediction, subgoal planning; ships with open RxBrain-Bench
Embodied
2026-07-19
—
—
—
SenseTimeSenseTime
Unifies seeing, generating, acting via NEO-unify architecture; native 8K output; debuted at WAIC 2026
Multimodal
—
2026-07-19
—
—
—
Kunlun TechKunlun Tech
Mureka v9.5 Closed
AI music model with O3 reflective-reasoning + MuCo creation agent; pitched as least AI-sounding music generator, unveiled at WAIC
Multimodal
—
2026-07-19
—
—
—
Kunlun TechKunlun Tech
Interactive world-model upgrade shown at WAIC; 5B model, real-time 720p-class generation at 20FPS with 1-minute memory
Video Gen
2026-07-19
—
—
—
ModelBestModelBest
0.9B on-device VLA model for person-tracking, unveiled at WAIC 2026; SOTA on 3 tracking benchmarks, runs 5+ FPS on Unitree Go2 onboard compute
Embodied
2026-07-17
—
—
—
ModelBestModelBest
1.5B on-device VLA model for robot manipulation, unveiled at WAIC 2026; outperforms larger models like π0.5 and Qwen-VLA per ModelBest
Embodied
2026-07-17
—
—
—
WeRideWeRide
WITT Closed
Physical AI foundation model built on Atomic Physical Facts; claims 98% lower token cost and 200x data efficiency vs general models (self-reported, unverified)
Embodied
2026-07-17
—
—
—
UnisoundUnisound
U2-Med Closed
First tri-medical LLM spanning healthcare, insurance and pharma; built on U2 foundation model
Multimodal
—
2026-07-17
—
—
—
Moonshot AIMoonshot AI
Kimi K3 Open
Flagship model, 2.8T total parameters, strong coding and agent capabilities, open weights by July 27
Multimodal
44/100
2026-07-16
1M
$3.00/1M tokens
$15.00/1M tokens
Ant GroupAnt Group
Industry-first embodied-native causal video-action model; dual-stream mixture-of-transformers architecture, unifies frame prediction and policy execution from scratch
Embodied
2026-07-11
—
—
—
Ant GroupAnt Group
Open-source world model generating hour-long, no-decay 720p/60fps interactive experiences with built-in dynamic agents; up from minutes-level in v1.0
Embodied
2026-07-09
—
—
—
AlibabaAlibaba
DAMO Academy release; generates robot's predicted future as joint RGB + depth + optical-flow stream for manipulation planning, not just 2D video
Embodied
2026-07-08
—
—
—
Ant GroupAnt Group
6B open-source cross-embodiment model; trained on 60K hrs real-world data across 20 robot morphologies from 17 manufacturers
Embodied
2026-07-08
—
—
—
Ant GroupAnt Group
1.1B-param ViT-g/16 self-supervised vision model using masked boundary modelling, trained on ~161M curated images; 4 sizes released under Apache-2.0
Embodied
2026-07-07
—
—
—
Ant GroupAnt Group
Next-gen monocular depth model paired with LingBot-Vision; claims to roughly halve robotic depth-estimation error in challenging scenarios
Embodied
2026-07-07
—
—
—
TencentTencent
295B total / 21B active + 3.8B MTP layer, 192 routed experts (top-8) + 1 shared; official release upgrades Apr 2026 preview, deployed across WeChat, Yuanbao, WorkBuddy
Text
25/100
2026-07-07
256K
$0.18/1M tokens
$0.60/1M tokens
Shengshu TechnologyShengshu Technology
Vidu S1 Closed
Real-time interactive video model with voice-controlled avatars; 540p up to 42fps; runs on consumer-grade GPUs instead of server clusters
Video Gen
2026-07-03
—
—
—
Zhipu AI (Z.ai)Zhipu AI (Z.ai)
GLM-5.2 Open
753B params; Rolled out to all GLM Coding Plan tiers (Lite/Pro/Max/Team); standalone API + MIT open weights
Text
51/100
2026-06-01
1M
$1.40/1M tokens
$4.40/1M tokens
MiniMaxMiniMax
MiniMax-M3 Open
428B params (23B active); 1-million-token context window; novel attention mechanism called MSA; native multimodality
Multimodal
29/100
2026-06
1M
$0.30/1M tokens
$1.20/1M tokens
Moonshot AIMoonshot AI
1T total params / 32B active, 384 experts, ~30% lower reasoning-token usage vs K2.6
Code
26/100
2026-06
256K
$0.95/1M tokens
$4.00/1M tokens
StepFunStepFun
198B total / 11B active params; 1.8B ViT vision encoder; 3 reasoning levels (low/med/high); ~400 TPS; Apache 2.0; supports NVIDIA NIM on-prem deployment
Multimodal
—
2026-06
256K
$0.2/1M tokens
$1.15/1M tokens
MeituanMeituan
1.6T para + MoE; trained on 50,000 domestic Chinese chips; next-gen flagship
Text
19/100
2026-06
1M
$0.75/1M tokens
$2.95/1M tokens
XPengXPeng
VLA 2.0 Closed
Second-generation vision-language-action world model — deliberative reasoning, controllable generation, and long-horizon forecasting. Runs on 4 self-developed Turing AI chips (~3,000 TOPS effective) in the Robotaxi platform.
Embodied
2026-06
—
—
—
AlibabaAlibaba
Qwen3.7-Max Closed
Flagship closed-source reasoning model. Ranked #1 on Artificial Analysis Intelligence Index (29/100) out of 218 models at release. 1M token context window. Text-only (no multimodal). Architecture reportedly dual-72B. Extended thinking / chain-of-thought mode. Released May 19, 2026.
Text
29/100
2026-05
1M
$2.50/1M tokens
$7.50/1M tokens
BaiduBaidu
ERNIE 5.1 Closed
MoE successor to ERNIE 5.0. ~⅓ total params, ~½ active params, 6% of pre-training cost. AIME 2026: 99.6% with tool use (#2 globally). Arena Search: 1,223 (#4 global, #1 China). Released May 9, 2026.
Text
—
2026-05
128K
$0.59/1M tokens
$2.65/1M tokens
Baichuan AIBaichuan AI
Baichuan-M4 Closed
Medical AI flagship (May 2026). World #1 on HealthBench, HealthBench Hard & HealthBench Professional. Hallucination rate 3.3% — industry low via factuality-aware RL. Surpasses GPT-5.5, Opus 4.7, DeepSeek-V4-Pro. Powers 百小医 AI family doctor.
Text
—
2026-05
—
—
—
ModelBestModelBest
1.3B multimodal model (SigLip2 + Qwen3.5-0.8B). 260K token context. Runs on consumer phones (iOS/Android/HarmonyOS). Launched May 2026.
Multimodal
—
2026-05
260K
—
—
ModelBestModelBest
1B language model with 128K token context. SOTA on-device LLM at its size class. Apache 2.0.
Text
—
2026-05
128K
—
—
Zhipu AI (Z.ai)Zhipu AI (Z.ai)
GLM-5.1 Open
754B flagship — top scores on AIME 2026 (95.3) and GPQA-Diamond (86.2); strong agentic and coding ability
Text
—
2026-04
200K
$0.98/1M tokens
$3.08/1M tokens
MiniMaxMiniMax
229B MoE; self-evolving agent — 30% perf gain over 100+ rounds; agent teams, complex skills, 24/7 background agents
Agent
2026-04
1M tokens
$0.28/1M tokens
$1.20/1M tokens
Moonshot AIMoonshot AI
Kimi K2.6 Open
1T MoE (32B active), 256K ctx; native multimodal agentic — top SWE-Bench (80.2) and AIME 2026 (96.4)
Multimodal
—
2026-04
256K
$0.60/1M tokens
$2.50/1M tokens
DeepSeekDeepSeek
Flagship MoE: 1.6T total / 49B active params, 1M context, FP4+FP8 precision, built-in Think/Non-Think reasoning modes. Codeforces rating 3206.
Text
—
2026-04
1M
$0.435/1M tokens
$0.87/1M tokens
DeepSeekDeepSeek
Efficient MoE: 284B total / 13B active params, 1M context. Same architecture as V4-Pro at far lower compute cost. Codeforces 2816.
Text
—
2026-04
1M
$0.14/1M tokens
$0.28/1M tokens
BaiduBaidu
8B single-stream Diffusion Transformer (DiT). Best text rendering in open source (LongTextBench: 0.9733). Up to 4K output. Apache 2.0. Released Apr 15, 2026.
Image Gen
2026-04
—
$0.03/image
—
Ant GroupAnt Group
1T total params, ~63B active per token; adaptive reasoning via high / xhigh modes; up to 66K output tokens; open weights (MIT); released May 8 2026; free tier available on OpenRouter
Text
—
2026-04
262K
$0.075/1M tokens
$0.625/1M tokens
Ant GroupAnt Group
1T total params, ~63B active per token; fast thinking approach cuts token cost to ~1/4 of comparable models; open weights (MIT); released Apr 23 2026; free tier available on OpenRouter via Novita AI
Text
17/100
2026-04
262K
$0.075/1M tokens
$0.625/1M tokens
Ant GroupAnt Group
Efficient sparse MoE: 104B total / 7.4B active, hybrid linear attention. 340 tokens/s on 4× H20. Strong agent and tool-use performance.
Text
—
2026-04
262K
$0.10/1M tokens
$0.30/1M tokens
TencentTencent
Hy3-preview Closed
295B MoE (21B active); reasoning, coding, and agentic workloads. Via Tencent Cloud TokenHub. Released Apr 23, 2026.
Text
—
2026-04
256K
¥1.2/1M tokens
¥4.0/1M tokens
XiaomiXiaomi
1.02T MoE, 42B active; KV-cache reduced ~7×; latest generation
Text
26/100
2026-04
1M
$0.0036/1M tokens
$0.087/1M tokens
AGIBotAGIBot
AGIBot's new-generation embodied foundation model, powering autonomous manipulation and locomotion across its AGIBOT A2 and X2 robot lines.
Embodied
2026-04
—
—
—
MOSIMOSI
MOSS-Audio Open
Open audio understanding family with 4B and 8B backbones; supports speech, environmental sound and music understanding.
Audio
2026-04
—
—
—
XiaomiXiaomi
MiMo-V2-Pro Closed
1T+ MoE, 42B active; hybrid attention; 1M token context
Text
—
2026-03
1M
$0.0036/1M tokens
$0.087/1M tokens
Unitree RoboticsUnitree Robotics
Vision-Language-Action model enabling the G1 humanoid to autonomously perform household tasks from natural language commands. Runs onboard the robot. Open-sourced March 2026 — Unitree's first AI model release.
Embodied
2026-03
N/A
—
—
Kunlun TechKunlun Tech
SkyReels V4 Closed
Audio-visual creation model (Mar 2026). Dual-stream architecture; #1 globally on Text-to-Video (With Audio) and Image-to-Video (With Audio) tracks at release. Generates clips up to 3 minutes.
Video Gen
2026-03
—
—
—
Kunlun TechKunlun Tech
Mureka V9 Closed
Music generation model (Mar 2026). Paragraph-level text control; enhanced mixing quality, vocal expression, and style richness.
Audio
2026-03
—
—
—
Kunlun TechKunlun Tech
Physics-simulation interactive world model (Mar 2026). 5B params; 720P @ 40FPS; covers 1,000+ scenarios with Unreal Engine data. Industrial-grade real-time interactivity.
Text
—
2026-03
—
—
—
ByteDanceByteDance
Seed2.0 Pro Closed
ByteDance's flagship multimodal model. Understands text, image, and video. Ranks #3 globally on LMSYS Vision Arena and #6 on overall text arena. AIME 2025: 98.3, SWE-bench: 76.5%.
Multimodal
—
2026-02
272K
$0.47/1M tokens
$2.37/1M tokens
ByteDanceByteDance
Unified multimodal image generation with chain-of-thought visual reasoning, real-time web search, and native editing. Supports up to 14 reference images. Up to 4K output at 2048×2048.
Image Gen
2026-02
—
$0.026/image
—
ByteDanceByteDance
Seedance 2.0 Closed
Unified audio-video joint generation model. Accepts text, image, video, and audio inputs; outputs native 2K video (up to 15s) with synchronized audio. 30% faster than Seedance 1.5 Pro.
Video Gen
2026-02
—
—
—
AlibabaAlibaba
Qwen3.5 Open
Unified vision-language MoE family. Flagship: 35B-A3B (35B total / 3B active) and 397B-A17B. Thinking mode on by default. Supports image, video, text input. 201 languages. Apache 2.0.
Multimodal
—
2026-02
262K (1M w/ YaRN)
—
—
AlibabaAlibaba
80B total / 3B active MoE coding agent. Excels at long-horizon agentic tasks, tool use, and IDE integration (Claude Code, Cline, Qwen Code). No thinking mode.
Code
—
2026-02
256K
—
—
Zhipu AI (Z.ai)Zhipu AI (Z.ai)
GLM-5 Open
754B MoE (40B active); 28.5T token pre-training; top-tier SWE-bench score of 77.8
Text
—
2026-02
200K
$1.40/1M tokens
$4.40/1M tokens
MiniMaxMiniMax
229B; SOTA SWE-Bench (80.2); 80% of MiniMax's own code generated by this model; M2.5-Lightning at 100 tok/s
Agent
2026-02
1M tokens
$0.30–$1.00/hr
$0.30–$1.00/hr
BaiduBaidu
ERNIE 5.0 Closed
2.4 trillion parameter unified multimodal (text + image + video + audio) in a single autoregressive framework. LMArena Text: 1,460 (#1 China, #8 global); Vision: 1,226 (#1 China, #8 global). Released Feb 6, 2026.
Multimodal
—
2026-02
128K
—
—
Ant GroupAnt Group
Open-source VLA foundation model trained on ~20,000 hours of real-world dual-arm robot data across 9 embodiments
Embodied
2026-02
—
—
—
Ant GroupAnt Group
World's first open-source 1T-parameter thinking model. Gold medal level at IMO 2025 (35/42 pts) and CMO 2025 (105/126). 3× throughput for sequences >32K.
Text
—
2026-02
256K
—
—
Ant GroupAnt Group
Any-to-any omni model: accepts image, text, video, and audio; outputs image, text, and audio. 100B total / 6B active MoE. Supports zero-shot voice cloning and image generation/editing.
Multimodal
—
2026-02
—
—
—
Ant GroupAnt Group
Novel diffusion-based language model — not autoregressive. 103B params. Generates text by iterative token editing rather than left-to-right decoding. 102K monthly downloads.
Multimodal
—
2026-02
—
—
—
Baichuan AIBaichuan AI
235B medical model (Feb 2026) built on Qwen3 architecture. Former world #1 on HealthBench. Hallucination rate 3.5%. Outperforms human doctors in diagnostic accuracy. 48GB VRAM with W4 quantization.
Text
—
2026-02
—
—
—
JD.comJD.com
Open-sourced lightweight model — 4.8B total / 3B active params, pretrained on 20T text tokens. Released on HuggingFace as part of JD's open-source push.
Text
—
2026-02
—
—
—
Moonshot AIMoonshot AI
Kimi K2.5 Open
1T MoE (32B active); trained on 15T vision+text tokens; thinking & instant modes; agent swarm support
Multimodal
—
2026-01
256K
$0.40/1M tokens
$1.90/1M tokens
DeepSeekDeepSeek
3B visual OCR model with document-to-markdown conversion, layout-aware grounding, and dynamic resolution. 1.66M monthly downloads.
Multimodal
—
2026-01
—
—
—
TencentTencent
80B MoE (13B active); text-to-image and image-to-image with reasoning. Open weight on HuggingFace. Released Jan 26, 2026.
Image Gen
2026-01
—
—
—
MeituanMeituan
68.5B MoE, 2.9–4.5B active; fast and efficient
Text
—
2026-01
256K
—
—
AIsphereAIsphere
PixVerse R1 Closed
Real-time world model; 1080p, <15s latency, physics-aware, infinite temporal continuity
Video Gen
2026-01
N/A
—
—
SenseTimeSenseTime
Real-time multimodal streaming model. Powers SenseChat's live audio/video interaction. Successor to V6 Pro.
Multimodal
—
2026-01
—
—
—
MOSIMOSI
MOVA Open
Open joint video and audio generation model; 32B total parameters with 18B active.
Video Gen
2026-01
—
—
—
LimX DynamicsLimX Dynamics
LimX's Vision-Language-Action embodied-AI engine powering autonomous manipulation and locomotion on its humanoid and legged robots.
Embodied
2026
—
—
—
DeepSeekDeepSeek
685B MoE with DeepSeek Sparse Attention (DSA). V3.2-Speciale variant won gold at 2025 IMO and IOI. 4.16M monthly downloads on HuggingFace.
Text
—
2025-12
128K
$0.252/1M tokens
$0.378/1M tokens
KuaishouKuaishou
Kling I2V 2.0 Closed
Image-to-video with industry-leading subject preservation
Multimodal
—
2025-12
N/A
$0.16/video (5s)
—
XiaomiXiaomi
309B MoE, 15B active; trained on 27T tokens; open-source release
Text
22/100
2025-12
N/A
$0.01/1M tokens
$0.30/1M tokens
AIsphereAIsphere
PixVerse V5.5 Closed
Text/image-to-video; HD output, multiple aspect ratios, character consistency
Video Gen
2025-12
N/A
—
—
TencentTencent
Hunyuan3D 3.0 Closed
3D asset generation from text, image, or sketch input
3D Gen
2025-11
—
—
—
iFlyTekiFlyTek
Spark X1.5 Closed
MoE reasoning model (29.3B total / 3B active parameters). Supports 130+ languages. Runs on a single Huawei Ascend server. Launched Nov 2025.
Text
—
2025-11
—
—
—
MiniMaxMiniMax
MiniMax-M2 Open
230B MoE (10B active); interleaved thinking; open-source under Modified MIT; free API available
Agent
2025-10
1M tokens
—
—
Infinigence AIInfinigence AI
MoE edge model: 3×7B experts, 3B active parameters. Open-weight, Apache 2.0.
Text
—
2025-09
—
—
—
AlibabaAlibaba
Qwen-Image Open
Image generation and editing foundation model. Exceptional Chinese + English text rendering. Supports style transfer, object insertion/removal, layered editing, and depth/edge estimation. Released Aug 2025.
Image Gen
2025-08
—
—
—
ModelBestModelBest
8B multimodal model (Qwen3-8B + SigLIP2). Apache 2.0.
Multimodal
—
2025-08
—
—
—
Moonshot AIMoonshot AI
Kimi k2 Open
Agentic model with tool use, web browsing, and code execution
Text
—
2025-07
128K
$0.57/1M tokens
$2.30/1M tokens
MiniMaxMiniMax
MiniMax-M1 Open
First open-weight large-scale hybrid-attention reasoning model; test-time compute scaling
Text
—
2025-06
1M tokens
$0.80/1M tokens
$2.20/1M tokens
MiniMaxMiniMax
Hailuo-02 Open
Physics-aware video generation; top-3 globally on VBench
Video Gen
2025-06
N/A
$0.06/video (5s)
—
Shengshu TechnologyShengshu Technology
Vidu Q3 Closed
World's first storytelling-focused video model. Up to 16 sec, 1080p 24fps, native audio sync. Multilingual. Pro and Turbo variants. MCP integration.
Video Gen
2025-06
—
~$0.07/sec
—
HuaweiHuawei
718B-parameter MoE model (256 experts), trained on the full-stack hardware and software of Huawei Cloud's AI Cloud Service (CloudMatrix 384 supernodes). Part of the Pangu Models 5.5 family, which per Huawei Cloud's own release delivers upgrades across five capabilities: natural language processing, computer vision, multimodal, prediction, and scientific computing.
Text
—
2025-06
—
—
—
RedNote (Xiaohongshu)RedNote (Xiaohongshu)
dots.llm1 Open
RedNote's first open-source LLM — 142B total / 14B active params (MoE), pretrained on 11.2T high-quality tokens with no synthetic data. Performance comparable to Alibaba's Qwen2.5-72B.
Text
—
2025-06
32K
—
—
DeepSeekDeepSeek
Latest R1 update: 685B, adds system prompt support, deeper reasoning (23K avg tokens on AIME vs 12K prior). Distilled 8B version achieves 86% on AIME 2024.
Text
—
2025-05
128K
$0.50/1M tokens
$2.15/1M tokens
KuaishouKuaishou
Kling 2.0 Closed
4K-capable video generation; advanced camera controls and scene coherence
Video Gen
2025-04
N/A
$0.16/video (5s)
—
KuaishouKuaishou
Kolors 2.0 Open
Upgraded photorealistic image model; open-source available
Image Gen
2025-04
N/A
$0.004/image
—
SenseTimeSenseTime
620B MoE hybrid. Real-time audio/video streaming. Ranked #1 in China in multimodal reasoning at launch. Lowest reasoning cost in industry at launch (Apr 2025).
Multimodal
—
2025-04
256K
¥2.8/1M tokens
¥8.4/1M tokens
Kunlun TechKunlun Tech
Open-source math and coding reasoning model (Apr 2025). 32B params; rivals DeepSeek-R1 on competitive programming benchmarks. 7B variant also available.
Text
—
2025-04
—
—
—
Qihoo 360Qihoo 360
Latest open-weight 360Zhinao generation (Base / Instruct / O1.5 long chain-of-thought reasoning variant). Free for commercial use.
Text
—
2025-04
32K
—
—
BaiduBaidu
ERNIE X1 Closed
Baidu's first dedicated reasoning model with extended chain-of-thought
Text
—
2025-03
128K
$0.28/1M tokens
$1.10/1M tokens
BaiduBaidu
ERNIE 4.5 Closed
Improved multimodal and reasoning; best ERNIE for Chinese enterprise tasks. The flagship ERNIE 4.5 model is closed-source, though several variants in the ERNIE 4.5 family are openly available on HuggingFace.
Multimodal
—
2025-03
128K
$0.55/1M tokens
$2.20/1M tokens
StepFunStepFun
Step-3 Closed
StepFun's 2025 flagship; 1M token context and native reasoning mode
Text
—
2025-01
1M
$0.57/1M tokens
$1.42/1M tokens
Baichuan AIBaichuan AI
32B medical reasoning model (2025) built on Qwen2.5-32B with innovative Large Verifier System for real-world clinical reasoning.
Text
—
2025-01
—
—
—
ModelBestModelBest
8B any-to-any model (text + vision + speech). Surpasses GPT-4o and Gemini 1.5 Pro on single-image understanding benchmarks. Launched Jan 2025.
Multimodal
—
2025-01
—
—
—
KuaishouKuaishou
Kling 1.6 Pro Closed
Previous flagship; supports 1080p, 5-10s clips, camera controls
Video Gen
2024-12
N/A
$0.14/video (5s)
—
Infinigence AIInfinigence AI
3B omni model processing text, vision, and audio. Outperforms LLaVA-NeXT-Yi-34B on vision benchmarks. Optimised for on-device and edge deployment.
Multimodal
—
2024-12
—
—
—
Kunlun TechKunlun Tech
Skywork-o1 Open
Reasoning model (Nov 2024) — among China's first o1-style models with chain-of-thought Chinese logical reasoning. Open-source 8B variant (Llama 3.1 base) plus proprietary advanced version.
Text
—
2024-11
—
—
—
Qihoo 360Qihoo 360
Second-generation 360Zhinao with Base and Chat variants at 4K / 32K / 360K context lengths.
Text
—
2024-11
360K
—
—
Baichuan AIBaichuan AI
Enterprise flagship general LLM (late 2024). 10%+ usability gain vs prior generation; priced at ~80% of GPT-4o. Supports multimodal input.
Text
—
2024-10
192K
—
—
Baichuan AIBaichuan AI
Baichuan4-Air Closed
MoE variant (PRI architecture) of Baichuan4. High performance at low cost for API deployments.
Text
—
2024-10
192K
—
—
01.AI01.AI
Yi-Lightning Closed
MoE flagship API model (Oct 2024). Ranked #6 on Chatbot Arena at launch — joint 3rd among LLM companies. 40% faster inference than prior Yi models. Final model before 01.AI halted pre-training in early 2025.
Text
—
2024-10
16K
$0.14/1M tokens
$0.14/1M tokens
01.AI01.AI
Yi-Coder Open
Code model (Sep 2024); 1.5B and 9B variants; supports 52 programming languages; 128K context window.
Code
—
2024-09
128K
—
—
iFlyTekiFlyTek
Spark 4.0 Closed
Flagship LLM (Aug 2024). Claims comparable performance to GPT-4 Turbo on Chinese language benchmarks.
Text
—
2024-08
—
—
—
StepFunStepFun
Step-2 Closed
Very long context window; strong document understanding
Text
—
2024-07
256K
¥0.038/1K tokens
¥0.12/1K tokens
StepFunStepFun
Step-1X-Image Closed
High-resolution image generation model
Image Gen
2024-07
N/A
¥0.04/image
—
01.AI01.AI
Yi-1.5 Open
Open-source series (May 2024); 6B–34B variants. Improved coding, math, reasoning, and instruction-following over original Yi.
Text
—
2024-05
—
—
—
Qihoo 360Qihoo 360
Retrieval + 1.8B reranking models that ranked #1 in the Retrieval and Reranking tasks of the C-MTEB leaderboard.
Embedding
2024-05
—
—
—
01.AI01.AI
Yi-VL-34B Open
34B vision-language model (early 2024). Open-weight multimodal extension of Yi-34B.
Multimodal
—
2024-01
—
—
—
01.AI01.AI
Yi-34B Open
Founding open-source model (Nov 2023). Topped HuggingFace Open LLM Leaderboard and C-Eval at launch. 200K-token context variant (Yi-34B-200K) also available.
Text
—
2023-11
200K
—
—
Kunlun TechKunlun Tech
Founding open-source bilingual LLM (Oct 2023). 13B params; pretrained on 3.2T tokens. Led same-scale models on CEVAL, CMMLU, and MMLU at launch.
Text
—
2023-10
—
—
—
Baichuan AIBaichuan AI
Baichuan2 Open
Open-source bilingual LLM series (Sep 2023); 7B and 13B variants; trained on 2.6T tokens. Available on Hugging Face under permissive license.
Text
—
2023-09
4K
—
—
JD.comJD.com
JD's 100B-parameter industry-focused LLM, blending 70% general data with 30% native supply-chain intelligence data for retail, logistics, finance, healthcare, and city-services applications.
Text
—
2023-07
32K
—
—
BaiduBaidu
ERNIE-Speed Closed
Free tier for prototyping and light production
Text
—
—
128K
—
—
MeituanMeituan
Image generation model, ~6B params; data-quality focused; released Dec 2025
Image Gen
—
N/A
—
—
MeituanMeituan
Text-to-video generation model; released Oct 2025
Video Gen
—
N/A
—
—
MeituanMeituan
Text + vision + audio multimodal
Multimodal
—
—
256K
—
—
MeituanMeituan
Chain-of-thought reasoning variant of LongCat-Flash
Text
—
—
256K
—
—
MeituanMeituan
560B MoE, 27B active; open-source; 500K free tokens/day
Text
—
—
128K
—
—
WeRideWeRide
Generative Engineered Neural Environment for Simulated Intelligence in Self-driving. WeRide's proprietary general-purpose simulation platform combining physical AI with generative AI. Rapidly builds photorealistic simulated cities in minutes, generates diverse edge-case scenarios from billions of km of real-world data, and models realistic pedestrian and driver behavior — all at centimeter-level fidelity. Supports L2++ through L4 AV development and validation via four modules: AI Scenarios, AI Agents, AI Metrics, and AI Diagnosis.
Embodied
—
—
—
—
Pony.aiPony.ai
PonyWorld 2.0 Closed
Second-generation world model underpinning the Virtual Driver L4 autonomous driving platform. Introduces an Intention layer — a structured representation of decision-making that enables the system to evaluate its own driving decisions, identify accuracy gaps across scenarios, and direct targeted data collection rather than broad undirected improvement. Direct sensor-to-action architecture with no language models in the inference pipeline; runs on 1016 TOPS across three NVIDIA DRIVE Orin-X SoCs with redundant failover.
Embodied
—
—
—
—
UnisoundUnisound
60B+ parameter general large model (v5.0); underpins all Unisound vertical products. Medical, enterprise, and consumer deployments.
Text
—
—
—
—
—
UnisoundUnisound
U2-ASR 2.5 Closed
First LLM-based semantic ASR model for Chinese. Covers 100+ dialects across 7 dialect systems. >90% accuracy. Available via Token Hub API.
Audio
—
—
—
—
UnisoundUnisound
Text-to-speech and voice cloning with full-duplex millisecond response. Available via Token Hub API.
Audio
—
—
—
—
UnisoundUnisound
U1-OCR Closed
Industrial-grade document intelligence model for OCR and document understanding. Launched February 2026.
Multimodal
—
—
—
—
—
MOSIMOSI
MOSS-TTS Open
Open speech generation model for voice cloning and multilingual synthesis.
Audio
—
—
—
—
GalbotGalbot
AstraBrain Closed
Embodied model system integrating perception, decision-making, manipulation and whole-body control for Galbot robots.
Embodied
—
—
—
—
GalbotGalbot
GraspVLA Open
Vision-language-action model for grasping, pretrained on billion-scale synthetic action data. Developed by Galbot and academic partners; code and checkpoints are linked on the project page.
Embodied
—
—
—
—
Disclosed, 2026 YTD
Funding & Markets
Private funding rounds and public market data for China's leading AI companies
50
Companies tracked
27 public · 23 private
~$49.6B
AI startup funding
12 AI-native cos
Compare companies →
Valuation, total funding & AI ARR, side-by-side
Most Active Investors
1 Tencent
16
2 HongShan Capital
12
3 Alibaba
12
4 IDG Capital
10
5 Shunwei Capital
7
Derived live from 180 rounds
ByteDance
ByteDance
PRIVATE
Valuation$600B
Total Raised~$42.21B+
AI ARR$4B
Alibaba
Alibaba
BABA / 9988.HK
Market Cap—
Cloud Revenue (FY25)¥158B
AI ARR¥10B
Zhipu AI (Z.ai)
Zhipu AI (Z.ai)
2513.HK
Market Cap~$26.3B USD
Total Raised$10.79B
AI ARR$1.6B
MiniMax
MiniMax
0100.HK
Market Cap—
Total Raised$2.17B
AI ARR$800M
Moonshot AI
Moonshot AI
PRIVATE
Valuation$50B
Total Raised~$8.2B+
AI ARR$1B
DeepSeek
DeepSeek
PRIVATE
Valuation$74B
Total Raised$22.06B
AI ARR$1B
StepFun
StepFun
PRIVATE
Valuation$10B
Total Raised$3.23B+
Last Round2026
Baidu
Baidu
BIDU / 9888.HK
Market Cap—
ExchangeNASDAQ: BIDU · HKEX: 9888
Founded2000
Ant Group
Ant Group
PRIVATE
Valuation$79B
Total Raised$20.53B+
Last Round2020
Tencent
Tencent
0700.HK
Market Cap—
Revenue (FY25)¥751.8B
Founded1998
Kuaishou
Kuaishou
1024.HK
Market Cap—
ExchangeHKEX: 1024
Kling ARR$500M
Xiaomi
Xiaomi
1810.HK
Market Cap—
Revenue (FY25)¥457.3B
Founded2010
Meituan
Meituan
3690.HK
Market Cap—
Revenue (FY25)¥364.9B
Founded2010
AIsphere
AIsphere
PRIVATE
Valuation$2B
Total Raised~$669M+
Last Round2026
Unitree Robotics
Unitree Robotics
688836.SS
Market Cap—
FY2025 Revenue¥1.71B
Founded2016
SenseTime
SenseTime
0020.HK
Market Cap—
Revenue (FY25)¥5.01B
Founded2014
Baichuan AI
Baichuan AI
PRIVATE
Valuation$2.7B
Total Raised$1.04B
Last Round2024
01.AI
01.AI
PRIVATE
Valuation$1B
Total Raised$300M+
Last Round2024
Kunlun Tech
Kunlun Tech
300418.SZ
Market Cap—
Revenue (FY25)¥8.2B
Founded2008
Evoken
Evoken
PRIVATE
Valuation$2B
Total Raised$430M+
Last Round2026
iFlyTek
iFlyTek
002230.SZ
Market Cap~¥190B
FY2025 Revenue¥27.1B
Founded1999
Infinigence AI
Infinigence AI
PRIVATE
ValuationUndisclosed
Total Raised~$251M+
Last Round2026
Enflame Technology
Enflame Technology
688801.SS
Market Cap—
FY2025 Revenue¥990.2M
Founded2018
SiliconFlow
SiliconFlow
PRIVATE
Valuation¥7.7B
Total Raised$419M
Revenue¥55.3M
Cambricon
Cambricon
688256.SS
Market Cap—
FY2025 Revenue¥6.5B
Founded2016
ModelBest
ModelBest
PRIVATE
Valuation¥20B
Total RaisedUndisclosed
Last Round2026
Moore Threads
Moore Threads
— (SSE)
Market Cap—
FY2025 Revenue¥1.505B
Founded2020
WeRide
WeRide
WRD / 0800.HK
Market Cap—
FY2025 Revenue~$93.6M
Founded2017
Pony.ai
Pony.ai
PONY / 2026.HK
Market Cap—
FY2025 Revenue$90.0M
Founded2016
Shengshu Technology
Shengshu Technology
PRIVATE
ValuationUndisclosed
Total Raised~$440M
Last Round2026
DiDi Autonomous Driving
DiDi Autonomous Driving
PRIVATE
ValuationUndisclosed
Total Raised$1.39B+
Last Round2025
Unisound
Unisound
9678.HK
Market Cap—
FY2025 Revenue¥1.21B
Founded2012
Momenta
Momenta
06880.HK
Market Cap—
FY2025 Revenue¥2.4B
Founded2016
Qihoo 360
Qihoo 360
601360.SS
Market Cap~$10.1B
Market Cap~$10.1B
Founded2005
CXMT
CXMT
688825.SS
Market Cap—
IPO Proceeds~$8.6B
Founded2016
Manus (Butterfly Effect)
Manus (Butterfly Effect)
PRIVATE
Valuation$4B
Total Raised$575M
Last Round2026
LimX Dynamics
LimX Dynamics
PRIVATE
Valuation¥15B
Total Raised~$400M+
Last Round2026
XPeng
XPeng
XPEV / 9868.HK
Market Cap—
ExchangeNYSE: XPEV · HKEX: 9868
Founded2014
AGIBot
AGIBot
PRIVATE
Valuation~$1.5B+
Total Raised$84M+
Last Round2025
Huawei
Huawei
PRIVATE
FY2025 Revenue¥880.9B
R&D Investment¥192.3B
Founded1987
Pragmatik Labs
Pragmatik Labs
PRIVATE
Valuation$2B
Total Raised$220M
Last Round2026
RedNote (Xiaohongshu)
RedNote (Xiaohongshu)
PRIVATE
Valuation~$70B
Total Raised~$917M+
Last Round2026
JD.com
JD.com
JD / 9618.HK
Market Cap—
FY2025 Revenue¥1,309.1B
Founded2004
Biren
Biren
6082.HK
Market Cap—
FY2025 Revenue¥1.035B
Founded2019
Hesai
Hesai
HSAI / 2525.HK
Market Cap—
FY2025 Revenue¥3.028B
Founded2014
MOSI
MOSI
PRIVATE
ValuationUndisclosed
Total Raised~$147M+
Last Round2026
MetaX
MetaX
688802.SS
Market Cap—
FY2025 Revenue¥1.644B
Founded2020
UBTECH
UBTECH
9880.HK
Market Cap—
FY2025 Revenue¥2.001B
Founded2012
Galbot
Galbot
PRIVATE
Valuation$3B
Total Raised~$904M+
Last Round2026
Today AI
Today AI
PRIVATE
ValuationUndisclosed
Total Raised>$200M
Last Round2026
Data methodology: Funding data on this page is compiled from publicly available sources — company press releases, regulatory filings, and media reports — and fact-checked by Tony Peng with the assistance of AI. Where a round appears in both a company disclosure and press report, company disclosure takes precedence. All figures may be approximate.
Shipped Products
Applications
AI products from China's leading companies, by category
Est. 2026

The essential tracker for China's AI ecosystem

One place to follow every major model release, funding round, product launch, and breakthrough from China's AI ecosystem.

Tony Peng
Tony Peng
AI observer · Journalist · Communications professional

China AI Index is a research project built and maintained by Tony Peng — a long-time observer of the AI industry with a background in journalism and communications — with the assistance of AI (Claude Code, Qoder, and Z Code). Tony is also the writer behind Recode China AI, a newsletter tracking the latest advances and news stories in intelligent technologies.

It exists to give English-speaking researchers, investors, journalists, and developers a structured reference for China's AI ecosystem — most authoritative information is published in Chinese, and this site translates and synthesizes it.

Models
Every major LLM, reasoning model, vision model, and generative AI model from Chinese labs — with benchmark scores, context windows, and live API pricing so you can compare apples to apples.
Financing
Full funding histories for private companies (ByteDance, DeepSeek, MiniMax, Moonshot…) and market data for public ones (Alibaba, Baidu, Tencent, Kuaishou). Valuations, investors, round sizes.
Newsfeed
News covering model launches, research breakthroughs, product announcements, and strategic moves — presented in a clean timeline with company tags and category filters.
People
Key founders, CEOs, CTOs, and researchers behind China's AI labs — with titles, Chinese names, and links to their social profiles so you know the faces shaping the industry.
Members
Regulation
A timeline of China's AI rules — generative AI measures, algorithm filing requirements, model approval lists, data law touchpoints, and provincial subsidy programs. Click any entry for the original text.
Members
Chips
Domestic AI accelerators, training clusters, and memory chips — specs, interconnect bandwidth, process nodes, and deployment status for China's emerging chip ecosystem.
Data Disclaimer

All pricing, benchmark scores, funding amounts, and valuations are sourced from public company announcements, tech media reporting, and developer documentation. They are provided for informational purposes only and may be approximate or subject to change.

Stock prices shown are approximate historical ranges — not real-time quotes. Always verify with a live financial data source before making investment decisions. Benchmark scores reflect results at the time of model release and may not account for subsequent updates.

This database is independently maintained and has no affiliation with any of the companies listed. Information is updated manually on a best-effort basis.

Newsletter
Recode China AI
Weekly intelligence on China's AI ecosystem, from Tony Peng — straight to your inbox.
Get in touch
Leave a message
Have a correction, suggestion, or just want to say hello? Send a note — Tony reads every message.
✓ Message sent! Tony will get back to you soon.
2026 Sep
TC260Agentsdraftcybersecurity
Effective: Open for comment Issuer: TC260 Type: Draft for comment

Extends the August deployment-side guide upstream to agent system development. Together the two documents suggest TC260 is building a build-and-run pair for agents ahead of any binding rule.

View Official Text ↗
2026 Sep
TC260sectoraleducationhealthcaremedia
Effective: 2026-09-15 Issuer: TC260 secretariat, 网安秘字〔2026〕118号 Type: Practice Guide

Four documents released together, the start of a general-plus-sector series. The General Principles apply across all industries; the other three give sector-specific security practice guidance for education, health, and broadcasting/online audiovisual. Drafting units include CESI, the NRTA research academy, NHC and MOE information centers.

View Official Text ↗
🔒 14 more regulations — Paid Subscribers Only
You're viewing the first 2 entries free. The full regulation timeline — 16 laws, measures, and strategy documents back to 2017 — is included with a paid Recode China AI subscription.
Not a paid subscriber? Upgrade on Recode China AI →

China's Chip Ecosystem

Domestic AI accelerators, large-scale training clusters, and memory chips — tracking the hardware layer behind China's AI buildout.

AI Accelerators
Clusters & Supernodes
Memory & HBM
Role
Precision
Company ↕ Chip ↕ Role Peak Compute ↕ Memory Tech Capacity ↕ Bandwidth ↕ Interconnect
Bandwidth ↕
TDP ↕ Process Status Highlights
MetaX ↗
C500
Training / Inference
—
Multi-precision GPU
— 64 GB —
—
MetaXLink (2 / 4 GPUs)
350 W — Production General-purpose PCIe GPU for model training, inference and data processing; MXMACA software stack.
Huawei ↗
Ascend 910B
Training
256 TFLOPS
BF16
HBM2e 64 GB 2.0 TB/s
392 GB/s
HCCS 3.0
400 W SMIC N+2 Production Most-deployed domestic training chip. Used at Alibaba, ByteDance, Baidu, and Tencent.
🔒 19 more accelerators — paid subscribers only
Specs marked ~ are estimates from third-party analysis. Click any column header to sort. Interconnect Bandwidth = chip-to-chip fabric bandwidth per chip (bidirectional).
Cluster / Supernode Operator Chip Chip Count Total Compute Interconnect Fabric Notes
Atlas 900 A3 SuperPoD (CloudMatrix 384)
Huawei Cloud Ascend 910C 384
300 PFLOPS
FP16
All-optical (OXC) Huawei's current-generation supernode. Uses optical circuit switching (OXC) for low-latency inter-chip communication. Announced April 2025 as a full-stack domestic alternative to Nvidia GB200 NVL72.
Atlas 950 SuperPoD
Huawei Cloud Ascend 950 8,192
8 EFLOPS
FP8
16.3 PB/s aggregate Next-generation supernode targeting 2026 delivery. 1,152 TB total memory. Full liquid cooling. Footprint larger than two basketball courts. Would represent a major leap in domestic training capacity if delivered at spec.
🔒 3 more clusters — paid subscribers only
Cluster sizes and compute figures are from official announcements or credible press reports.
Company Product Type Capacity Bandwidth Process Status Notes
CXMT ↗
DDR5
DDR 16–32 Gb dies ~6400 MT/s ~16nm (G4) Production CXMT's latest-generation DDR5, unveiled Nov 2025 — its push into the high-end DRAM market against Samsung, SK Hynix, and Micron.
CXMT ↗
LPDDR5X
LPDDR Mobile ~8533 MT/s ~16nm Production Low-power mobile DRAM for smartphones and edge/AI devices.
🔒 2 more memory chips — paid subscribers only
DRAM, HBM, and NAND from Chinese memory makers. Specs marked ~ are estimates from third-party analysis or press reports.
🔒 Free Preview — Paid Subscribers Only
You're seeing the first 2 rows of each table. Full specs for 21 accelerators, 5 clusters, and 4 memory chips are included with a paid Recode China AI subscription.
Not a paid subscriber? Upgrade on Recode China AI →
Compare