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MiniMax, the ‘world-class’ AI start-up lauded by Jensen Huang, applies for Hong Kong IPO

MiniMax, the artificial intelligence (AI) start-up backed by two of China’s largest technology conglomerates, has confidentially applied for a Hong…

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Chinese brain drain a great loss for US, Nvidia CEO Jensen Huang says

It is a “great loss” for the United States that many Chinese academics and researchers have left the country and…

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New Business

Alibaba’s US$7 billion subsidy deepens China’s instant e-commerce war with JD.com, Meituan

Alibaba Group Holding’s instant commerce service announced on Wednesday a substantial subsidy programme totalling 50 billion yuan (US$7 billion) over…

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Chinese jeweller Laopu Gold surges 15% as investors devour 69 million shares post lock-up

A surge in the supply of Laopu Gold shares after the end of a lock-up period turned out to be…

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Hong Kong stocks’ rally to extend into second half, but US-China risks remain: analysts

Hong Kong’s stock market rally is expected to extend into the second half of the year, thanks to a surge…

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New Business

Alibaba and JD.com claim record participation in 618 sales event, boosted by subsidies

More than 453 brands each surpassed 100 million yuan (US$14 million) in gross merchandise value (GMV) on Alibaba’s Taobao and…

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Beijing’s reform could bring Hong Kong-listed Alibaba, Tencent to Shenzhen: HSBC

Beijing’s latest reform to allow Hong Kong-listed companies to seek secondary listings in Shenzhen could bring mainland China’s most valuable…

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New Business

How a Chinese AI start-up helps Nike, Gap, Urban Revivo predict fashion trends

Founded in 2018 at fast-rising Chinese technology hub Hangzhou, capital of eastern Zhejiang province, Zhiyi Tech is focused on compiling…

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New Business

Alibaba’s Joe Tsai says open-sourcing its AI models will boost firm’s cloud business

Alibaba Group Holding chairman Joe Tsai said that open-sourcing large language models (LLMs) would spur a surge in artificial intelligence…

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New Business

DeepSeek quietly updates R1 AI model amid anticipation for next-gen tech

Chinese artificial intelligence (AI) start-up DeepSeek quietly released a new version of its R1 reasoning model on Wednesday, marking its…

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