Tencent Holdings shares plunged as much as 7.1% on June 2026, the steepest single-day drop since April 2025, as investors rotated from gaming stocks into AI-related companies. The tech giant has shed …
Chinese AI lab Moonshot AI is preparing to begin discussions in August on a final pre-IPO fundraising round at a valuation of as much as US$50 billion, capitalizing on the success of its Kimi K3 model…
Moonshot, a Chinese AI startup, debuted its Kimi K3 model with 2.8 trillion parameters at the World AI Conference, drawing crowds and comparisons to DeepSeek. Founder Yang Zhilin, a Carnegie Mellon al…
A ByteDance employee in Beijing burns through nearly a billion AI tokens monthly, yet ranks low in department consumption, as Chinese tech giants including ByteDance, Alibaba Group Holding, and Tencen…
Chinese AI startup DeepSeek is launching a new fundraising round targeting a valuation of approximately 500 billion yuan ($74 billion), ahead of a potential IPO on Shanghai's STAR Market, according to…
Chinese artificial intelligence startup DeepSeek is in talks to raise a new financing round at a pre-investment valuation of around US$70 billion, shortly after closing its landmark Series A round. Th…
Tencent Holdings released Hy3, its first full model under Chief AI Scientist Yao Shunyu, on July 6, activating 21 billion of 295 billion parameters per call and cutting hallucination rates from 12.5% …
Alibaba shares surged up to 13.8% in Hong Kong on Wednesday after UBS and Jefferies projected the company's June-quarter revenue growth would accelerate to 9%, driven by strong AI demand and narrowing…
Oil prices surged over 2% after the U.S. launched strikes on Iran, while Asian shares were mixed. Brent crude rose to $76.09 a barrel and U.S. benchmark crude to $72.25. Markets remain volatile amid A…
Kuaishou Technology shares fell over 6% after Tencent Holdings cut its stake from 15.68% to 9.37% by selling 273 million Class B shares, raising about HK$12.56 billion. The divestment followed Tencent…
Hong Kong stocks fell 11% in the first half of the year, making the city's exchange one of the world's worst performers, as a hawkish Federal Reserve and a lack of pure AI exposure weighed on sentimen…
DeepSeek is introducing peak-hour surcharges for its API services, reversing its earlier price cuts that triggered a price war among Chinese AI companies. The surcharge doubles the cost of accessing i…
Hong Kong's Hang Seng Index fell 2.3% on Friday, heading for a 5.8% weekly loss, its worst in over a year, as a renewed sell-off in technology stocks gripped Asian markets. The decline was exacerbated…
Hong Kong's Hang Seng Index briefly slipped below 23,000 for the first time in a year, led by a 4.2% drop in Alibaba after Anthropic accused it of illicitly extracting AI capabilities. The decline ref…
Chinese AI company DeepSeek raised approximately $7.4 billion in its first external funding round on June 16, 2026, at a valuation between $52 billion and $59 billion. Founder Liang Wenfeng contribute…
Microsoft has sold OpenAI models to major Chinese technology companies including ByteDance, Ant Group, Meituan, and Tencent Holdings, with ByteDance on track to spend over $1 billion annually on Micro…
Microsoft has built a significant business selling OpenAI models to Chinese tech giants including ByteDance, Ant Group, Meituan, and Tencent, despite U.S.-China tensions over AI. ByteDance alone is on…
ByteDance and Tencent have slashed AI model prices, joining a deepening price war in China's AI sector as falling costs and narrowing capability gaps intensify competition. ByteDance's Seedance 2.0 Mi…
Ant Group is testing an overhaul of its Alipay super app that introduces an AI agent interface, allowing users to book rides, order coffee, or manage finances via voice or text commands. The move esca…