China's Zhipu AI and MiniMax raise $1.2B combined, but funding lags $380B US total
China's top AI startups Zhipu AI and MiniMax raised $1.2B combined, but US firms received 325x more funding between 2023-2026
MiniMax
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Zhipu and MiniMax see short-selling halve amid Hong Kong AI sector reset
Hong Kong-listed AI firms Zhipu and MiniMax see short-selling plunge 50% as market shifts focus to cloud giants.
Anthropic accuses Moonshot, DeepSeek, MiniMax and Alibaba of stealing Claude via distillation
Anthropic alleges rivals like Moonshot and Alibaba are using distillation to unlawfully access and replicate Claude's capabilities.
Zhipu and MiniMax post 400% and 283% revenue jumps, respectively, but losses mount
Zhipu and MiniMax report significant revenue growth but increased spending, with Zhipu's revenue reaching $136M and MiniMax's at $116.6M.