China AI Leaders Warn of Widening Gap With US After $1B IPO Week [Yahoo! Finance Canada]
TENCENT HLDGS UNSP/ADR (TCEHY)
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Source: Yahoo! Finance Canada
The event, co-organized by Zhipu and Tsinghua University, followed market debuts this week in which Zhipu and Shanghai-based MiniMax Group collectively raised more than $1 billion. MiniMax shares more than doubled on their Friday debut, while Zhipu has climbed 36% since its debut a day earlier. Still, China's AI heavyweights struck a cautious note on the chances of overtaking the US in developing state-of-the-art models at the gathering in Zhongguancun, a technology hub often described as Beijing's Silicon Valley. Joining Lin in that assessment were Tang Jie, Zhipu's founder and chief AI scientist, and Yao Shunyu, who recently joined Tencent from OpenAI to lead the AI push for China's most valuable company. “We just released some open-source models, and some might feel excited, thinking Chinese models have surpassed the US,” Tang said. “But the real answer is that the gap may actually be widening.” The breakout success of DeepSeek's R1 model at the start of 2025 spurred a wave
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