The new year marks a significant milestone in the artificial intelligence sector with the public listings of Chinese companies Zhipu AI and MiniMax, the first large language model (LLM) start-ups to go public globally. Their successful debuts outpace major U.S. competitors like Microsoft-backed OpenAI and Amazon-supported Anthropic, who are yet to enter the public market. Backed by influential investors, including state-linked funds and tech giants such as Tencent and Alibaba, these companies are positioned for growth. Notably, dedicated gaming firms are also fueling China’s AI development. MiHoYo, known for the hit game Genshin Impact, has invested in MiniMax, while 37 Interactive Entertainment has stakes in Zhipu and other emerging AI players. Collectively, these firms are recognized as China’s “four AI tigers,” signaling the nation’s rapid advancement in AI technology and investment strategies. This evolution showcases the increasing prominence of China in the global AI landscape.
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