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Articles about early-stage companies; pre-IPO, including those still being funded by angel investors, private equity or venture capitalists.
last updated:
9 September, 2024
DeepSeek and ChatGPT icons are seen on an iPhone screen. Photo: Shutterstock Images
Artificial intelligence

China’s AI disrupter DeepSeek bets on ‘young geniuses’ to take on US giants

DeepSeek prefers to hire new graduates, or those early in their AI career, in line with the company’s preference for ability over experience.

CES

Hong Kong start-ups in CES spotlight as city strives to become Asian tech hub

Artificial intelligence

Chinese start-up 01.AI founder Lee Kai-fu denies asset sale to Alibaba Cloud

Artificial intelligence

Alibaba ties up with Lee Kai-fu’s unicorn as AI sector consolidates

Alibaba Cloud signs a deal with start-up 01.AI to develop AI model solutions for business clients.

Alibaba Cloud is collaborating with 01.AI to build business-focused large models. Photo: Handout
Artificial intelligence

Meet DeepSeek: the Chinese start-up that is changing how AI models are trained

Hangzhou-based DeepSeek is 2025’s ‘biggest dark horse’ in open-source large language models, Nvidia research scientist Jim Fan says.

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Fintech

Hong Kong picks 4 firms to manage funds linked to cash-for-residency scheme

The fund size is expected to reach HK$600 million (US$77.3 million) and allocated evenly for investment.

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Artificial intelligence

Explainer | Why ChatGPT creator OpenAI plans transition to public benefit corporation

The new structure aims to potentially make OpenAI a more investor-friendly company, while maintaining a mission of funding a related charity.

OpenAI’s transition into a public benefit corporation is expected to help it raise more capital. Photo: TNS
Artificial intelligence

China catches up fast in AI race, but US chip curbs cast shadow

Abundant investment and an open-source approach have pushed China to the AI forefront, but a lack of advanced chips may prove devastating.

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Artificial intelligence

China’s GenAI market continues to heat up as Beijing records more LLM filings

The latest batch of GenAI services registered in Beijing included large language models from Zhipu AI and Xiaomi affiliate Rigo Design.

Artificial intelligence

Chinese start-up DeepSeek’s new AI model outperforms Meta, OpenAI products

DeepSeek’s V3 model was trained for two months at a cost of US$5.58 million, using significantly fewer computing resources than its rivals.

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DeepSeek has developed an artificial intelligence model at a fraction of the capital outlay that bigger companies like Meta Platforms and OpenAI typically invest. Photo: Shutterstock
Artificial intelligence

Hong Kong start-up offers personalised avatars in bid to monetise generative AI

The company’s AI photo booth is built upon several large image models including Stable Diffusion, which it uses to produce digital avatars.

A photo taken on November 27, 2024 shows the logo of ChatGPT on a smartphone screen and the letters AI on a laptop screen. Photo: AFP
Artificial intelligence

Shanghai firm helps AI start-up Stepfun raise ‘hundreds of millions of dollars’

Fortera Capital, a private-equity firm under the Shanghai State-owned Capital Investment Co, led Stepfun’s recent series B funding round.

Hong Kong economy

Opinion | Weakest link in Hong Kong’s tech ecosystem? Scale-up funding

With venture capital and IPO growth weak globally, start-ups should aggressively seek international commercialisation, leverage marketing strategies and connect with power players overseas.

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Asean

Opinion | How Southeast Asia can become the next AI powerhouse

Young, dynamic and fast, the region has unique advantages, supported by investment in infrastructure, talent, policy support and collaboration.

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An AI virtual anchor is pictured during the launch of Malaysia’s National AI Office in Kuala Lumpur, Malaysia, on December 12. Southeast Asia’s unique combination of adaptability, dynamism and strategic investments is positioning it as a critical player in shaping the AI landscape. Photo: Xinhua
Artificial intelligence

Chinese-owned Character.ai rival vanishes from US App Store

Talkie, a popular AI companion app developed by Shanghai start-up MiniMax, has been removed from Apple’s store in the US.

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Talkie, a chatbot app developed by Chinese start-up MiniMax, allows users to converse with AI characters. Photo: Handout
Artificial intelligence

Chinese start-up Zhipu AI adds US$412 million to war chest in crowded market

Zhipu said it doubled its revenue year on year in the 11 months to November, without providing an exact figure.

Robotics

Ex-OpenAI engineer launches robotics start-up amid China’s race to boost industry

Light Robotics, which has set up offices in Shenzhen and Singapore, will focus on consumer-facing companion robots.

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China's economic recovery

China touts ‘bold capital’ to coax risky plays amid waning investor confidence

Concept of ‘bold capital’ has emerged amid national efforts to improve policy environment for investors that both encourages and forgives their attempts.

A two-passenger eVTOL multicopter, the EH216-S, conducts a demonstration flight in Shenzhen, where “bold capital” is being encouraged to elevate innovation and economic growth. Photo: Handout
E-commerce

Shein’s UK IPO slowed by challenge from Uygur NGO alleging Xinjiang cotton use

Britain’s Independent Anti-Slavery Commissioner has also raised concerns over allegations about the fast-fashion firm’s labour practices.

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Artificial intelligence

After OpenAI’s Sora launch, Adobe is falling behind with its AI video roll-out

Two months after Adobe announced a browser-based video generation tool, the product remains in limited testing, while OpenAI publicly launched Sora this week.

Artificial intelligence

Chinese AI start-up Baichuan loses co-founder in latest industry shake-up

The departure of Hong Tao, who was pivotal to early monetisation efforts, comes after high-level departures at rival start-ups such as 01.AI and Moonshot AI.

China’s artificial intelligence start-ups have gone through some high-level changes this year as the domestic market deals with saturation and increased competition. Photo: Reuters
Artificial intelligence

Moonshot AI founder’s dispute with 5 investors up for arbitration in Hong Kong

The five firms that invested in Moonshot AI founder Yang Zhilin’s last venture, Recurrent AI, claim he has ‘uncleared liability’.

Moonshot AI founder Yang Zhilin. Photo: Future Publishing via Getty Images
Hong Kong economy

Editorial | Hong Kong is counting on innovative investment

The HKIC has funded 80 start-ups and projects. These deals have come at a critical time for the city as it builds itself up as a hi-tech centre.

Artificial intelligence

Chinese AI firms rush out costly ‘reasoning’ models to take on OpenAI’s o1

Alibaba Cloud is the latest among a slew of Chinese firms to roll out the AI models that take more time to reason through maths and programming queries.

Artificial intelligence

Tsinghua University-fostered start-up to widen test of AI-based virtual hospital

The Agent Hospital developed by Tairex, formed under Tsinghua’s Institute for Al Industry Research, will conduct public tests next year.

The virtual Agent Hospital features 42 AI doctors covering 21 departments that include emergency, respiratory, paediatrics and cardiology. Photo: Shutterstock
Banking & finance

Hong Kong government invests in 80 start-ups as war chest swells

Flush with proceeds from the city’s successful investment-migration scheme, HKIC puts money in local, mainland and overseas start-ups.

A robot performs in a demonstration at a launch ceremony for an investment by Hong Kong Investment Corp in Beijing-based Galbot, at Island Shangri-La on July 19, 2024. Photo: Dickson Lee
IPO

A Chinese recycling that aims to replicate its success overseas

The company, which operates an online platform connecting individuals and businesses with recycling services, plans to expand globally.

Biomedicine: Companies

Hong Kong start-up eyes global pest control market with scent-based products

Plasticvore is a two-year old biotech start-up offering alternative, humane solutions to controlling and eliminating pests, founder says.

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