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US venture capital firms visit China to study its AI scene as DeepSeek rekindles interest

Thrive Capital and Capital Group have made separate visits to the country to discuss AI with local companies and funds, sources say

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An interactive robot seen at an AI exhibit in an expo in Nanning, Guangxi. Photo: Xinhua
Joshua Kushner’s Thrive Capital and investment firm Capital Group have in recent months visited China to learn about its artificial intelligence (AI) industry, joining a growing number of US investors rekindling interest in the country after DeepSeek’s advances stunned Silicon Valley.

Senior people at Thrive met companies and funds in China to discuss AI, people familiar with their visit to the country said. Kushner did not join the delegation, one of the people said, asking to remain anonymous discussing a private event.

At the same time, Capital Group – one of the world’s largest funds – dispatched senior executives to China to find out more about the AI scene, the people said.

The separate visits took place around the time Uber Technologies backer Benchmark Capital agreed to lead an investment in Butterfly Effect, creator of the up-and-coming AI service Manus that has Chinese-born founders.
Joshua Kushner, the brother of US President Donald Trump’s son-in-law Jared Kushner, seen with his wife Karlie Kloss. Photo: Invision/AP
Joshua Kushner, the brother of US President Donald Trump’s son-in-law Jared Kushner, seen with his wife Karlie Kloss. Photo: Invision/AP

The outreach underscores tentative but mounting interest in a once-overlooked Chinese AI industry that is getting reassessed since DeepSeek proved a home-grown firm can design a platform on par with the likes of OpenAI and Anthropic.

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