Open reasoning models; cost discipline; efficient training.
Rumored/pending first external round: up to 50B yuan (~$7.35B)
Kimi consumer assistant; long context; open model releases.
$3.9B raised over the past six months; earlier rounds not fully itemized
MSRA-heavy Shanghai lab; multimodal models and heavy training infrastructure, increasingly oriented toward on-device and edge deployment.
>$3.2B cumulative disclosed/announced funding, plus earlier undisclosed rounds
Tsinghua-origin GLM stack for enterprise, agents, video, and state-linked deployments.
~$2.0B cumulative raised, including $558M IPO proceeds
Consumer AI, characters, voice/video, and multimodal products.
~$1.8B cumulative disclosed funding, including $619M IPO proceeds
Former general LLM startup now oriented around healthcare and medical models.
~$1.0B cumulative funding
Kai-Fu Lee's startup that left the frontier-pretraining race; its core team was absorbed into Alibaba, leaving an enterprise/archive footprint.
~$300M total known funding
Tencent's foundation-model stack for WeChat/cloud/games, plus video and 3D.
Internal platform funding, not comparable to venture rounds
ByteDance's Doubao app, Seed research, video models, Volcano Engine calls, and on-device agent experiments.
Internal platform funding, not comparable to venture rounds
Alibaba Cloud's open model family, Bailian MaaS layer, coding/agent benchmarks, and developer distribution.
Internal platform funding, not comparable to venture rounds
Xiaomi AI Lab's open models tied to device, car, and edge-product ambitions.
Internal platform funding, not comparable to venture rounds
Efficient MoE models for agent/tool-use and local-services workflows.
Internal platform funding, not comparable to venture rounds