Jing Yang

Chinese leader Xi Jinping called for 'open source and open collaboration' in global AI development during a keynote speech at a government-hosted AI conference in Shanghai on Friday. Xi emphasized the importance of 'inclusiveness' and 'mutual learning among civilizations' in AI advancement. The remarks signal a shift in China's public positioning on international AI cooperation, though the extent of practical policy changes remains unclear.

DeepSeek, a Chinese AI lab, is planning another funding round weeks after closing a $7.4 billion raise at a post-money valuation exceeding $50 billion. The rapid succession of fundraising rounds signals aggressive capital deployment and expansion plans. The move comes as competition in AI development intensifies globally.

Chinese humanoid robotics startup LimX Dynamics closed a pre-IPO funding round at a 15 billion yuan ($2.2 billion) valuation, raising $200 million from domestic and international investors. The round was led by IDG Capital, a major Chinese venture firm. The funding positions the company for a potential public listing and reflects growing investment in humanoid robotics development in China.

DeepSeek, a three-year-old Chinese AI lab that had never raised outside funding, completed a $7.4 billion Series A in mid-June, valuing the company at over $50 billion. The fundraising marks the largest first-time raise by a Chinese startup. According to three people familiar with CEO Liang Wenfeng's thinking, the decision to seek external capital was prompted by Anthropic's April release of Mythos, a model preview that Anthropic claimed could find and exploit software vulnerabilities.

Tencent Holdings has invested $20 million in an AI lab founded by Junyang Lin, the former lead researcher behind Alibaba's Qwen models. Lin's new venture raised several hundred million dollars in its first funding round. The investment signals Tencent's interest in backing independent AI research talent and reflects ongoing competition among Chinese tech giants for AI expertise.

Chinese regulators blocked Meta's $2 billion acquisition of Manus on Monday, ordering both companies to terminate the deal. The Office of the Working Mechanism for Foreign Investment Security Review, operating under the National Development and Reform Commission, made the decision. The move reflects China's tightening scrutiny of foreign technology acquisitions and signals potential friction in cross-border AI and hardware deals.