Chinese bubble tea maker Mixue Group plans to raise about US$500 million from its Hong Kong initial public offering (IPO) after peer Guming Holdings completed a US$232 million upsized share sale in the city. Mixue, China’s largest freshly made drinks firm, would begin book-building by the end of this month and list on the Hong…
The launch of DeepSeek has unsettled the world’s belief that it “could contain China”, said Deutsche Bank, calling the emergence of the artificial-intelligence (AI) technology the country’s “Sputnik moment”. By characterising the start-up’s achievement as a significant turning point for the country, the bank goes further than Marc Andreessen, the influential Silicon Valley venture capitalist,…
But DeepSeek’s head office in Hangzhou, capital of eastern Zhejiang province, on Wednesday kept mum on the firm’s potential next moves, as it declined all requests from news media, including the South China Morning Post. More security personnel were deployed outside its office building on the same day, according to one of the guards on…
Shi Yuxiang is eager to find out what the latest artificial intelligence (AI) technology has to offer in video-making. But with OpenAI’s long-awaited Sora video generation tool launching only earlier this month, the 34-year-old entertainment industry professional from Beijing has been experimenting with a wide range of Chinese alternatives. “Whenever there’s a new product release,…
An annual gathering of the world’s top minds in artificial intelligence (AI) is gaining wider attention as it emerges as the new battleground in the competition between the US and China, according to event attendees. The six-day Conference on Neural Information Processing Systems, or NeurIPS, wrapped last week in Vancouver, Canada, and attracted more than…
The Hang Seng Index rose 1.2 per cent to 20,650.82 as of 9.49am local time, extending a 2.8 per cent gain on Monday. The Hang Seng Tech Index gained 1 per cent. On the mainland, the CSI 300 Index climbed 1.9 per cent and the Shanghai Composite Index added 1.6 per cent. Sentiment took a…
Chinese Big Tech firms ByteDance, Alibaba Group Holding and Tencent Holdings are looking to recruit some of the world’s brightest minds in artificial intelligence (AI) with their enhanced presence at this year’s Annual Conference on Neural Information Processing Systems (NeurIPS), often referred to as the “Olympics of AI”. At NeurIPS to be held in Vancouver,…
Foreign spies could be using deepfake technology to threaten both individual and national security, China’s Ministry of State Security has warned. Deepfake tools, while finding application in general industries, could be exploited by espionage agencies as a new weapon for “cognitive warfare”, the ministry said in a statement on its social media account on Saturday….
Chinese internet giant Tencent Holdings added more than 3,000 jobs in the third quarter, in a sign that the country’s most valuable technology company is on a new growth trajectory after the industry was beset by downsizing in recent years. The Shenzhen-based company had 108,823 employees by the end of September, up 3 per cent…
China’s southern tech hub Shenzhen spent a record amount on research and development (R&D) last year, rivalling Beijing’s level and vastly exceeding that of neighbouring Hong Kong to cement its position as a national research mecca. Shenzhen’s R&D expenditure jumped to 223.66 billion yuan (US$30.93 billion) in 2023, surpassing the 200-billion-yuan mark for the first…