Journalism begins where hype ends

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The danger of AI is not that it will become conscious and hate us, but that it will become competent and ignore us."

—Eliezer Yudkowsky

China AI Boom: How is China Financing it? What a US-Based Research Firm Says

China’s AI buildout is drawing increasing investment as companies rely on equity, bank loans and other financing channels while AI revenues and profitability lag those of US peers.

According to a Rhodium Group report, China’s AI revenues and profitability lag those of US peers. The report says China’s AI models generated around $10.7 billion in combined annual recurring revenue, roughly 10% of recently reported levels for OpenAI and Anthropic, while Chinese AI firms rely on equity, bank loans and other funding channels to sustain investment.

China’s Zhipu AI Unveils GLM-5.3 Frontier Model; Claims to Match Mythos 5 on Cyber Benchmarks

Official logo of Z.ai’s newly launched GLM-5.3 flagship model.

China-based Zhipu AI (Z.ai) has launched its latest flagship open-weight model GLM-5.3, claiming significant improvements in coding, long-horizon tasks and cybersecurity over its predecessor, along with the discovery of thousands of real-world software vulnerabilities.

Zhipu AI Market Cap Tops HK$1 Trillion as Shares Soar 42%

Zhipu AI, listed on the Hong Kong Stock Exchange as Knowledge Atlas Technology, became the first Chinese AI company to go public in January 2026. (Image: Zhipu AI)

Zhipu AI, one of China’s six ‘AI Tiger’ companies, saw its total market capitalisation cross HK$1 trillion (US$128 billion) on Monday as its Hong Kong-listed shares soared as much as 42%, days after the open-source release of its GLM-5.2 model.