David Sacks said this would "deprive Huawei of basically having this giant market share in China."

MiniMax has confidentially filed for an initial public offering in Hong Kong, according to people familiar with the matter, signaling the onset of a race among China’s generative AI startups to tap public markets.

BEIJING/SHANGHAI (Reuters) -Nvidia CEO Jensen Huang described artificial intelligence models from Chinese firms Deepseek, Alibaba and Tencent as "world class" and said AI was "revolutionising" supply chains,

As with DeepSeek’s models, Kimi K2 is open-weight, meaning it can be downloaded and built upon by researchers for free. It can also be accessed via an application programming interface (API) for a fraction of the price of leading proprietary models, such as Claude 4 from Anthropic, based in San Francisco, California.

Alibaba-backed startup Moonshot released on late Friday night its Kimi K2 model, touting performance that rivals many U.S. models.

Nvidia chief executive Jensen Huang called China's open-source artificial intelligence a "catalyst for global progress" and hailed the country's

By Kane Wu, Liam Mo and Che Pan HONG KONG (Reuters) -Chinese AI startup MiniMax has filed confidentially for a Hong Kong initial public offering, targeting a valuation of over $4 billion in the flotation,

Data center operators in China, which use Nvidia’s H20 chips to crunch data for various AI services, have been struggling to find a local alternative that is as good as the U.S. company’s chips.

Nvidia CEO Jensen Huang praised Chinese AI models as "world class" at a Beijing expo, highlighting their open-source approach and global impact. This

HONG KONG (Reuters) -Chinese AI startup MiniMax has filed confidentially for a Hong Kong initial public offering, targeting a valuation of over $4 billion in the float, which could happen before the end of this year,

President Donald Trump curbed sales of Nvidia’s H2O artificial intelligence chips to China in April as part of an escalation of his trade war with Beijing. But the leading AI chips group said on Monday it had been told by the US government that Washington would resume approvals for these chips to be sold to Chinese companies.