China’s language learning model market is projected to reach 101.1 billion yuan (US$14.5 billion) by 2030, as reported by Frost and Sullivan. Recently, Chinese AI startup Zhipu AI successfully went public in Hong Kong, with shares rising 11.8% following an oversubscribed IPO that raised HK$4.35 billion (US$558 million). Zhipu AI, founded in 2019, focuses on large language model (LLM) services for businesses and government clients, while its competitor MiniMax targets the consumer market with generative AI tools. Both companies’ IPOs reflect optimism in Chinese AI, despite analyst predictions of delayed profitability due to high operational costs and market demand. Additionally, legal issues, such as a copyright infringement lawsuit from Disney and others against MiniMax, loom. As the AI boom continues to push tech stocks higher, investors remain cautious of potential market volatility. Beijing’s push for homegrown microchips aims to bolster China’s position amid U.S. restrictions.
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