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After Databricks raised $5 billion at a $190 billion valuation, Bloomberg began referring to OceanBase as “China's Databricks.” Although Databricks originated from the data-lake side and OceanBase from databases, both are moving toward AI data platforms as OceanBase prepares for a roughly 2–3 billion yuan Series A.
Anthropic reportedly expects its IPO to match or exceed SpaceX's record $75 billion raise and could file publicly as soon as the end of this month. The company reportedly recorded an almost $42 billion net loss in 2025, about five times the previous year's figure.
Kuaishou’s Kling AI raised nearly $3 billion at a post-money valuation of $18 billion, with Kuaishou’s stake falling to 68.33% and a potential Hong Kong IPO targeted by 2031. Despite strong revenue growth, Kling faces slowing momentum, talent departures, and intense competition from ByteDance’s Seedance and open-source video models.
Callosum has raised $100 million in early financing to develop software that matches specific AI tasks with suitable models and chips. Backers include the UK’s public AI fund.
Nokia is reportedly planning further layoffs, facility closures, and a major reduction of its mainland China operations, potentially retaining only limited after-sales services. The retreat is part of a global restructuring toward AI and cloud businesses, but it may reduce Nokia’s access to China’s large-scale 5G deployment data needed for AI-RAN and future 6G research.
British AI-chip startup Fractile is reportedly in advanced talks to raise funds at a $6.5 billion pre-money valuation. The proposed valuation is more than six times its level three months ago, following a chip-supply deal with Anthropic.
Anthropic reportedly expects its initial public offering to match or exceed SpaceX’s record-setting IPO size. Preparations for the AI company’s debut are accelerating, according to people familiar with the matter.
Moore Threads’ first post-IPO half-year report shows revenue rising 147% to RMB 1.736 billion, while attributable losses narrowed sharply. However, the improvement relies heavily on concentrated cloud-computing sales, government subsidies, investment gains, and IPO-funded cash reserves rather than a clear recovery in core operations.
Investor Duan Yongping bought back 301,400 Alibaba shares worth about $28.93 million, representing only 0.15% of his portfolio. The small position suggests renewed observation rather than strong conviction, especially as Alibaba explores AI cooperation with Apple while PDD Holdings receives a much larger allocation.
SMIC reported its first $3 billion quarter, with revenue rising 36.1% year over year and net profit nearly tripling to $479.2 million. The Chinese foundry is also raising wafer prices as US sanctions strengthen demand from China’s captive AI market.