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DeepSeek raised about USD 7 billion in its first external funding round at a USD 59 billion valuation, with Tencent, CATL, and founder Liang Wenfeng p…

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<a href="/company/deepseek">DeepSeek</a> raised about USD 7 billion in its first external funding round at a USD 59 billion valuation, with <a href="/company/tencent">Tencent</a>, <a href="/company/catl">CATL</a>, and founder Liang Wenfeng participating.

Senfeng Laser has submitted its Beijing Stock Exchange IPO registration after passing its listing review in August. Overseas sales accounted for 74.88% of 2025 revenue. Founders Li Fengxi and Li Lei could face a share repurchase obligation of about RMB 146 million if specified listing conditions are not met.

S-Game said <em>Phantom Blade Zero</em> will launch on October 29 for PS5 and PC. The action RPG game has surpassed three million wishlists across all platforms. Preorders are open, with the standard digital edition priced at RMB 268 and the deluxe edition at RMB 328 in China.

<a href="/company/xpeng">Xpeng</a> CEO He Xiaopeng said the company expects its robots to make significant capability gains beginning in Q4 2026 and continuing into H1 2027. He said robot development is about 20 times more difficult than building cars because of challenges spanning hardware, software, design, and supply chains. Xpeng has begun gradually ramping robot production.

Z.ai deployed GLM-5.3-Flash across a cluster of more than 100,000 domestic AI accelerators in about two weeks. An infrastructure agent powered by GLM-5.3 helped optimize the inference system, increasing end-to-end throughput by 3.2 times. Z.ai described the work as an early step toward AI systems helping optimize their own infrastructure.

Manus is reportedly seeking USD 500 million in new funding at a valuation of about USD 4 billion, twice its previous valuation. Talks remain ongoing and the terms could still change.

<a href="/company/byd">BYD</a> has begun large-scale production of its self-developed Xuanji A3 intelligent driving chip. The automotive-grade chip uses a four-nanometer process, and BYD board secretary Li Qian said the company will continue investing in semiconductor design and manufacturing as vehicle intelligence becomes more important.

ByteDance spinoff Anew Labs raised USD 290 million in its first external funding round, valuing the AI drug discovery company at about USD 1.5 billion. Investors include HSG, GL Ventures, IDG Capital, 5Y Capital, and Gaorong Ventures, while ByteDance retained a 56% stake.

Li Auto launched the six-seat i9 Home electric SUV at RMB 369,800. The flagship model has a 101-kilowatt-hour battery, a 705-kilometer CLTC range, and dual-motor all-wheel drive. It is the first flagship car model built on Li Auto’s second-generation pure electric platform and includes rear-wheel steering and four "zero-gravity" seats.

China has developed a weather forecasting model capable of producing forecasts up to ten days ahead at a five-kilometer resolution. The model runs on Sugon 8000, a computing system built with about 100,000 domestically produced <a href="/industry/ai">AI</a> accelerators.

Nubia launched the NaviX Ultra on September 16, bringing the consumer version of the Doubao mobile assistant to a mass market smartphone. The phone starts at RMB 5,999, or RMB 5,499 after government subsidies, and uses Qualcomm’s fifth-generation Snapdragon 8 Elite platform. Its AI features include voice interaction, cross-app task execution, and personalized memory.

Alibaba, China’s e-commerce giant, operates online retail marketplaces, cloud computing services, and digital payment networks across Asia and beyond.

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The Zhenwu V900 extends Alibaba’s push into proprietary silicon as rising AI demand drives further expansion of its cloud infrastructure.

Alibaba scales AI compute with new chip and 20 GW data center target

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Its listing will give public investors exposure to a relatively uncommon segment of the physical AI hardware market.

Direct Drive Tech launches Hong Kong IPO, testing demand for physical AI hardware

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Deals in brief: Singapore-based dtcpay closes Series A round, 01F Group invests in Dana, ten China investments, and more

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DeepSeek raises USD 7 billion

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Alibaba scales AI compute with new chip and 20 GW data center target

Direct Drive Tech launches Hong Kong IPO, testing demand for physical AI hardware

Deals in brief: Singapore-based dtcpay closes Series A round, 01F Group invests in Dana, ten China investments, and more