The new year has ushered in an exciting chapter in the artificial intelligence sector, highlighted by the impressive public market debuts of two Chinese innovators, Zhipu AI and MiniMax. These companies stand out as the first large language model (LLM) start-ups to be publicly listed globally.
Their successful listings position them ahead of notable US competitors, including Microsoft-backed OpenAI and Anthropic, which is supported by Amazon.com, both of which have yet to make their mark on public markets.
These Chinese firms count heavyweight investors among their backers, including state-affiliated funds and major technology corporations like Tencent Holdings and Alibaba Group Holding. Furthermore, it’s worth noting that Alibaba owns the South China Morning Post.
In a lesser-known yet equally impactful development, several of China’s dedicated gaming companies have been instrumental in financing the growth of its leading AI developers.
Among these contributors is miHoYo, the creator of Genshin Impact, which stands out as one of the most successful mobile games ever launched by a Chinese developer. Additionally, 37 Interactive Entertainment has emerged as a significant supporter of China’s AI ambitions.
In summary, the early successes of Zhipu AI and MiniMax have not only placed them at the forefront of the AI landscape but have also highlighted the significant role of various investors, including those from the gaming sector, in propelling China’s technological advancements. As the AI race intensifies globally, these developments are sure to shape the future of the industry.
