MiniMax secures $2 billion in escalating China AI funding race
The fundraising comes as MiniMax’s market performance has diverged sharply from that of domestic rival Zhipu AI.
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DeepSeek nears first funding round as investors scramble for stakes
Media reports on May 22 said the latest round had expanded to 70 billion yuan ($10.33 billion), with a pre-money valuation of about $45 billion.
DeepSeek slashes API prices to record low as token costs plunge
At the new rates, DeepSeek said usage cost of its V4-Pro model now drops to industry-low levels, with cached input costing as little as 2.5 fen, the smallest unit of the Chinese currency, per million tokens.
DeepSeek adds image recognition as it moves beyond text-only AI
DeepSeek’s image understanding feature began a phased rollout in late April 2026 and was made widely available to users on May 9, according to the company.
DeepSeek seeking record $7.4 billion funding, report says
This comes as competition among the country’s large language model developers intensifies, driving demand for capital to secure compute, attract talent and accelerate commercialization.
DeepSeek unveils V4 after prolonged teaser rollout and delay
The release follows an extended, almost 3-month delay that industry sources attribute in part to a transition in training infrastructure from Nvidia GPUs to Huawei Ascend chips.
Hangzhou ranks No. 2 in China AI computing capacity as sector expands
The city trails only Beijing in total computing capacity, according to industry data, reflecting the capital’s concentration of national-level data centers and research institutions.
DeepSeek rolls out ‘fast’ and ‘expert’ modes to offer tiered AI experience
The update marks the first time DeepSeek has introduced functional tiering since its debut in November 2023, signaling a shift toward more refined product positioning.
Alibaba Cloud studio adds memory library to AI agents to tackle context loss
Most current AI agents lack long-term memory, which can lead to context loss in extended conversations or multi-session tasks, forcing users to repeatedly explain preferences and instructions.
Alibaba embeds Qwen 3.6-Plus across Wukong AI app after model debut
The rapid integration reflects Alibaba’s strategy of pairing foundation models with deeply embedded enterprise scenarios, Wukong’s spokesperson said.
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