Tencent releases Hy-MT2 translation model
Tencent has open-sourced its new translation model, Hy-MT2, and launched a mini-program called 'Tencent Hy Translation'. The model shows significant improvements in instruction-following capabilities.
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Alibaba Adds Chat Shopping to Qwen-Taobao
Alibaba is overhauling online shopping to mimic chatting with an AI chatbot instead of keyword searches. Qwen users, one of China's most popular AI assistants, will soon use natural language to find and buy items on Taobao and Tmall. This move supports Alibaba's broader AI gateway strategy.
DeepSeek-Alibaba Funding Rumors Denied
DeepSeek launched a massive financing round in April, reportedly attracting Tencent and Alibaba. Rumors claimed Alibaba talks collapsed, but market sources confirm Alibaba did not negotiate. Tencent interest remains unconfirmed.
Xiaomi MiMo-V2.5 Model Released
MiMo-V2.5 by Xiaomi has been released and is available on OpenRouter. Announced on r/LocalLLaMA. Represents a new version in the MiMo series.
Qianwen Seeks AI Persona After Doubao
Following Doubao, Alibaba's Qianwen is pursuing a 'face' or persona. Major tech firms are increasingly anthropomorphizing their AI models.
Qiqu AI Model Bags Million Funding
MOVA ecosystem firm Qidian Player (Shenzhen) Tech's self-developed AI large model 'Qiqu' completed million-level financing. Funds target deepening native AI base research, model operations, and team expansion.
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Kimi K2.6 Launches in 2 Weeks
Moonshot's Kimi K2.6 is set for release in 10-15 days with incremental improvements. K3 is in development, aiming to rival US models with massive parameter counts. This signals aggressive scaling in Chinese LLMs.
Cursor's Coding Model Built on Moonshot Kimi
Cursor has admitted its new coding model is built on top of Moonshot AI’s Kimi. This disclosure highlights risks of relying on Chinese AI models amid current geopolitical tensions.
MiniMax Revenue Soars 160% Amid 360% Losses
MiniMax 2025 revenue reached $79M, up 160% YoY, with Q4 API services surging 278% to $10.5M. Despite 370% loss rate from R&D, it's top among Chinese LLMs. M2.5 model drives 6x token growth via agents.
Jieyue Xingchen Eyes $500M HK IPO
Reports claim AI LLM firm Jieyue Xingchen is eyeing Hong Kong IPO to raise ~$500M, with talks on equity sales underway. Listing timeline uncertain, possibly H1 or H2 2026; company has not responded. Would be third listed Chinese LLM startup.