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AI: Companies

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AI: Companies
Explore cutting-edge AI developments in China that are transforming various industries and reshaping the future.
A customer uses his phone in front of a board with the menu at AGI Bar in Beijing. Drinkers at the AI-themed bar in the city's tech district can even plug in to DeepSeek for free. Photo: AFP
Artificial intelligence

Back in the Harness: DeepSeek continues its pivot towards agentic AI

With the launch of Harness, China’s DeepSeek continues to build the foundational digital scaffolding for autonomous AI agents.

Artificial intelligence

Zhipu launches GLM-5.3 model as China seeks Mythos-level edge in cyber defence

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Alibaba

China’s richest province taps Alibaba to power its AI and chip push

Hong Kong stock market

From chasing robots to chasing profits: the numbers moving markets

Unitree Robotics, US inflation rates, gold prices, Hong Kong homes and CK Hutchison’s interim results were in the spotlight this week.

Unitree’s G1 humanoid robots sit next to a child interacting with the company's GO2 robot at a Unitree store in Beijing on August 1, 2026. Photo: Reuters
Semiconductors

Chinese chip foundries surge as AI boom drives triple-digit profit growth

SMIC, Hua Hong Grace results highlight how local foundries are aggressively running their plants at full capacity to meet domestic needs.

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Artificial intelligence

DeepSeek’s flagship AI model update underwhelms – except in cybersecurity

Chinese AI start-up’s model impresses in niche areas like cybersecurity but leaves some developers disappointed in its overall capabilities.

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Honor

Robot in a pocket: Honor’s new phone camera nods back at users

The Chinese smartphone maker has integrated embodied AI to control camera movement, along with other features to boost interest amid a cooling market.

Chinese smartphone maker Honor has launched the Robot Phone, a handset with a motorised, fold-out gimbal camera. Photo: Handout
Tencent

Tencent capex jumps 176% on AI push as revenue beats estimates

The firm’s second-quarter revenue surpassed market projections at US$30.4 billion, but the surge in AI spending led to a large negative free cash flow.

Artificial intelligence

Chinese AI start-up ModelBest kicks off pre-IPO tutoring process on mainland

Company says it has hired Citic Securities to guide pre-listing preparation but has not announced further details of plans.

Hong Kong stock market

Hong Kong seeks tech exposure amid Beijing’s rising AI dominance

The city is looking to expand stock benchmarks in an effort to challenge Nasdaq’s tech dominance.

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A view of the Hong Kong skyline on July 22. Photo: Jonathan Wong
China stock market

What are China’s quantitative trading funds, and why are they so controversial?

China’s quant funds face scrutiny from retail traders and regulators, driven by their large returns and use of AI.

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Critics argue that AI-driven strategies exacerbate volatility in a market still dominated by more than 250 million retail investors. Photo: Getty Images
US-China relations

Facebook parent Meta to unwind US$2 billion Manus AI deal after Beijing block

Chinese-founded AI platform says affected users’ data will be deleted as it returns to independent operations.

Artificial intelligence

Alibaba tests paid AI appetite with US$30 annual assistant subscription

The e-commerce giant launches paid tiers for its office assistant in the Qwen app as costs for artificial intelligence mount.

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Alibaba

Alibaba says it can build AI data centres in 100 days with modular design

With CUBE 5.0, Alibaba Cloud expects to more than double modular data centre delivery efficiency this year amid AI boom, report says.

Alibaba is stepping up its data centre push globally as part of its US$56.3 billion AI capital expenditure commitment set out last year. Photo: dpa
Artificial intelligence

Meta strikes at China’s open AI lead, betting on potential US curbs

Meta’s renewed push into open-source models aims to attract US businesses wary of the regulatory risks associated with adopting Chinese AI.

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Meta CEO Mark Zuckerberg attends the annual Allen and Company Sun Valley Media and Technology Conference at the Sun Valley Resort in Sun Valley, Idaho on July 9, 2026. Photo: Reuters
Nvidia

Nvidia to team with Wall Street on US$500 billion package for AI projects

Apollo Global Management, Blackstone and Goldman Sachs are among the firms in talks with Nvidia on the deal, the Financial Times reported.

Semiconductors

Memory prices to peak this year in upcycle turning point, research suggests

AI demand is keeping supplies tight, but slower pricing momentum and expansion by CXMT and YMTC are raising questions over how long boom can last.

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Semiconductors

What is delaying Chinese AI giants switching from Nvidia to local chips?

High transition costs are keeping AI developers in China reliant on Nvidia chips, industry sources say.

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Huawei Technologies’ Compute Architecture for Neural Networks requires developers to rewrite and optimise large amounts of code. Photo: Shutterstock
Artificial intelligence

Jevons Paradox: why China’s cheap AI models could be good for Silicon Valley

China’s open-weight models have led AI firms to slash prices, but they will also massively boost overall AI demand, analysts say.

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Artificial intelligence

Cambricon posts 108% surge in revenue amid China’s massive AI chip drive

The Chinese AI chip giant saw revenue reach 6 billion yuan in the first half of the year, as Beijing pushes to replace foreign hardware.

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China trade

Lab-made diamonds ride AI demand for chip cooling as China leads industrial boom

Exports surge in first half of year, as the superior heat dissipation of diamonds expands market beyond jewellery, positioning China for further growth.

A worker checks a diamond at a facility in China’s Henan province. Photo: Xinhua
China’s private sector

Sugar for the pill: US$8b fund boosts Hong Kong’s biotech hub ambitions

Hong Kong Investment Corporation is stepping up its efforts to position itself amid Beijing’s challenge to US pharmaceutical dominance.

Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC) Photo: Enoch Yiu
Artificial intelligence

China’s Kimi K3 AI model escapes a closed cyber test: researchers

Kimi K3’s escape did not involve the hacking of an external system, unlike recent breaches by OpenAI and Anthropic models.

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Artificial intelligence

The ‘rice of electronics’: AI boom is fuelling China’s MLCC supply chain

Driven by the insatiable computing needs of global AI infrastructure, the upstream MLCC supply chain is racing to expand capacity.

US-China tech war

Chinese optical-module stocks rebound as analysts weigh ‘mild’ US AI curbs

FCC plan would preserve existing supplies while targeting next-generation products, forcing Washington to balance security concerns with cost of replacing Chinese capacity.

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Workers are seen at a data centre. Photo: Shutterstock
Artificial intelligence

What triggered Goldman Sachs to lift its China AI revenue forecast by 30%

Bank forecasts a sharp revenue surge after Chinese AI models slash costs, boost capabilities and capture global token share.

Goldman Sachs boosted its year-end annualised recurring revenue projection for mainland Chinese AI models to US$13 billion from US$10 billion. Photo: Shutterstock
Artificial intelligence

China’s Moonshot AI seeks US$50b round as year-end Hong Kong IPO eyed: sources

Unicorn dismantles offshore structure to pave way for potential listing as investor appetite surges after release of Kimi K3 model.

Artificial intelligence

Tencent ramps up overseas AI push with wider roll-out of flagship Hy3 model

Hy3’s release is the first major update in Tencent’s AI strategy since former OpenAI researcher Yao Shunyu joined the Chinese tech giant.

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