# Hong Kong firm bets on Chinese open-weight models to rival CoreWeave > Source: > Published: 2026-08-17 01:00:13+00:00 # Hong Kong firm bets on Chinese open-weight models to rival CoreWeave ‘Neo-cloud’ provider Antimatter is helping businesses shift away from the US’ frontier AI models, promising lower costs and greater data sovereignty [has shaken up the global artificial intelligence (AI) market](https://www.scmp.com/tech/tech-war/article/3361142/why-chinas-open-weight-ai-model-kimi-k3-sparking-anxiety-silicon-valley?module=inline&pgtype=article)in recent months. With China’s systems offering high performance at a lower cost, businesses around the world are looking at shifting away from Silicon Valley’s leading providers. Now, a new Hong Kong-based company aims to turn that trend into a billion-dollar business. The “neo-cloud” provider Antimatter is helping firms switch from the dominant US models – and the cloud systems that serve them – allowing them to cut costs and gain greater control over their data. The company is rapidly building up its AI data centre capacity and expects revenue to “grow exponentially” over the next two years, as closed frontier AI models will “not be able to satisfy” rising global demand for AI. A growing number of small businesses, government organisations and technology enthusiasts are seeking to reduce their reliance on the US tech giants, according to Queenie Chan, Antimatter’s chief marketing officer. “Many of our customers are looking for alternative solutions to move off from the frontier models,” Chan said during an interview last week. “We are seeing quite a bit of inquiries coming in from the Middle East and Europe.”