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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
The level of generative artificial intelligence activity in Beijing reflects its position as home to some of the country’s major players in the field – including Baidu, Zhipu AI and Moonshot AI. Photo: Shutterstock
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

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Artificial intelligence

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

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.

Artificial intelligence start-up Stepfun raised a hefty, undisclosed amount in its latest funding round. Photo: Handout
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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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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Shein is facing hurdles in its pursuit of a London IPO in part because of allegations about its China sourcing and labour practices. Photo: Reuters
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.

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.

Hong Kong is counting on investment. Photo: Shutterstock
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.

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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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Robotics

Chinese start-up wants to replace human chefs with robots

Cooking robots can help restaurants cut labour costs by 30 per cent, and reduce food and seasoning waste by 10 per cent.

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Botinkit’s Omni allows the operator to choose a recipe and follow the steps shown on the touch screen to complete the dish. Photo: Handout
Artificial intelligence

Video of a robot leading a mass escape draws laughs and fears over AI in China

A video of a robot inciting other robots to flee an exhibition hall has gone viral in China, but the reality is less scary than it looks.

Erbai, a small robot developed by Chinese start-up Hangzhou Erbai Intelligent Technology, has “incited” bigger robots to escape from an exhibition hall at night. Photo: 我系二白 via Douyin
Artificial intelligence

Uber said to eye US$10 million stake in IPO of China’s Pony AI

The ride-hailing giant may consider using Pony AI’s autonomous-driving technology outside the US, a source says.

ByteDance

TikTok parent ByteDance offers top performers more stock options

ByteDance has adjusted its staff incentive policy for the second time this year, as Trump’s re-election boosts its valuation.

Artificial intelligence

Chinese AR start-up Rokid puts Alibaba AI in smart glasses to take on Meta

Rokid’s US$345 smart glasses are the latest from China to adopt generative AI to capitalise on the burgeoning product category.

The Rokid Glasses include a number of use cases that are aided by artificial intelligence, including real-time translation and messaging. Photo: Rokid
Business of climate change

Hong Kong start-up develops AI-powered smart bin to tackle recycling

Green AI’s smart collection bin can sort waste into four categories – plastic bottles , aluminium cans, drinks cartons and general refuse.

Cola Lam, CEO of Green Al Technology, gives a demonstration of the smart sorting bin at the company’s offices at Hong Kong Science Park in Sha Tin. Photo: Edmond So
China trade

Why are Chinese robots cleaning up in America’s backyards?

Manufacturers of robotic pool cleaners seek to emulate China’s electric vehicle success story while keeping an eye on tariff threats.

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Hong Kong

Vaccine shows promise in curing HIV, Hong Kong start-up says

‘We may be on the brink of a breakthrough,’ Dr Edward Leong, advisory board chairman of Immuno Cure says.

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