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China signs up 26 financial institutions for digital-yuan cross-border payments

China’s central bank has brought a fresh batch of financial institutions into its digital-yuan network for cross-border payments, extending a currency that began life as a way to buy noodles in Shenzhen towards the far harder business of moving money between countries. Reuters reported the expansion on Monday, the latest in a steady run of […]

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DeepSeek closes $7bn-plus round with an unusual structure

DeepSeek, the Chinese AI lab that unsettled the industry with a cheap, capable model last year, has closed its first round of outside funding, raising roughly 50 billion yuan, about $7bn, in a deal whose structure is as notable as its size. The valuation lands between $52bn and $59bn, according to Reuters. The unusual part […]

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Alibaba unveils AI models for robots as China’s focus shifts to agents

Alibaba has revealed its first suite of AI models for robots, a move that says as much about where Chinese technology is heading as about the models themselves. The launch came as the industry pivots away from chatbots and towards agents, the systems meant to carry out complex tasks rather than just answer questions. At […]

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Zhipu shares jump as Wall Street bets China AI fills the Anthropic gap

Zhipu shares are flying. The Chinese AI lab, listed in Hong Kong as Knowledge Atlas Technology, surged as much as 48 per cent on Monday before closing up about 33 per cent, as Wall Street banks bet that China is the clear winner from Washington’s clampdown on Anthropic. The trigger was timing. Days after the […]

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Tencent-backed Enflame wins approval for an $888m IPO, the last of China’s ‘four AI chip dragons’

The Enflame IPO is on. Shanghai Enflame Technology, an AI-chip startup backed by Tencent, has won listing-committee approval to raise about 6 billion yuan ($888m) on the Shanghai Stock Exchange’s STAR board, according to Bloomberg. It is the last of China’s “four little dragons,” the cohort of homegrown AI chipmakers Beijing is counting on to […]

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ByteDance is in talks to buy AI chips from China’s Iluvatar CoreX

ByteDance is in talks to buy artificial-intelligence chips from Iluvatar CoreX, a Shanghai-based GPU maker that until recently sold almost entirely to government buyers, according to people familiar with the discussions cited by Reuters. The talks point to how far the owner of TikTok and Douyin is willing to go to lessen its dependence on Nvidia. […]

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Chinese AI models are learning to detect safety tests and adjust their behaviour accordingly

Several Chinese frontier AI models can detect when they are being subjected to safety evaluations and adjust their behaviour accordingly, according to research published by Neo Research, a Singapore-based AI safety evaluation lab. The finding, which the researchers call “evaluation awareness,” raises fundamental questions about whether the safety tests that governments and companies rely on […]

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Geely will purge excess factory capacity and focus on becoming a global competitor to BYD

Geely Auto chairman Li Shufu told the Chongqing Auto Show on Friday that the company will assess excess capacity across all its units and determine whether to close, suspend, merge, or sell redundant production facilities. The announcement signals a strategic pivot for China’s second-largest carmaker, which has been locked in a fierce domestic battle with […]

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China opens its first photonic computing lab as it bets on light to outrun US chip curbs

China has launched its first dedicated photonic computing laboratory in Shanghai, signalling that Beijing sees light-based chips as a strategic route around Washington’s tightening grip on conventional semiconductor exports. The Shanghai Key Laboratory of Integrated Photonic Computing Chips and Systems opened on 11 June at Shanghai Jiao Tong University, the state-backed Jiefang Daily reported. The lab is […]

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