Yan Junjie, chief executive officer of MiniMax Group Inc., right, and Yun Yeyi, chief operating officer, during the company’s listing ceremony at the Hong Kong Stock Exchange on Jan. 9. MiniMax, one of China’s largest generative AI startups, rose in Hong Kong after an IPO that raised $619 million and minted Yan as a new…
China’s Spring Festival has emerged as a high-stakes arena for artificial intelligence and robotics companies, with tech giants Tencent Holdings and Baidu committing a combined 1.5 billion yuan (US$215 million) to their digital red packet campaigns. Chinese social media and gaming giant Tencent announced on Sunday that its AI chatbot app Yuanbao would give away…
ByteDance may not allow all American TikTok employees to join the newly proposed US-based entity. Instead, the social media company is reportedly planning to split its US employees between two different corporate units. A report citing the company’s internal memos claimed that a portion of TikTok’s US workforce will join a new joint venture called…
CXMT Corporation, parent of Chinese memory chip giant ChangXin Memory Technologies (CXMT), aims to raise 29.5 billion yuan (US$4.2 billion) from an initial public offering in Shanghai to fund technology upgrades, as Beijing presses ahead with its drive for tech self-reliance amid geopolitical tensions. The Shanghai Stock Exchange received CXMT’s application for a listing on…
Top tech talent in China can expect lavish bonuses for 2025 as big tech firms from ByteDance to Tencent Holdings double down on efforts to retain and lure people with specialised skills in fields such as artificial intelligence. TikTok owner ByteDance expanded its bonus pool by 35 per cent from a year earlier, as well…
The Chinese commerce ministry’s latest remarks on the TikTok deal in the US signalled acceptance rather than approval, as Beijing “hopes” the arrangement will comply with Chinese laws and strike a balance between rival interests, analysts say. The Chinese Ministry of Commerce, which oversees trade and export controls, declared its position a week after TikTok…
TikTok may have dodged a US ban but there still seem some unresolved issues about its algorithm. Recently, TikTok CEO Shou Zi Chew announced that the company had signed binding agreements to spin its US operations into a new joint venture with American investors set to close on January 22, taking a major step toward…
China’s artificial intelligence boom is giving rise to a new cohort of “solopreneurs”, who are turning their business dreams into reality with the help of technology, offering a glimmer of hope in an otherwise bleak job market. While there is no government data tracking this group, the proliferation of affordable AI models suggests that the…
Chinese internet search giant Baidu on Tuesday reported a 50 per cent increase in artificial intelligence-related revenue in the three months ended September from a year ago, which was the bright spot to an otherwise lacklustre financial quarter. The Beijing-based company’s third-quarter revenue declined 7 per cent year on year to 31.2 billion yuan (US$4.4…
Fintech giant Ant Group, an affiliate of Alibaba Group Holding, has unveiled what it called China’s first multimodal artificial intelligence assistant capable of producing code-driven outputs, including “flash apps” in as little as 30 seconds. LingGuang, described as a next-generation multimodal AI assistant, was designed to help users create a variety of simple apps –…