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On 30 July 2026 Moonshot AI closed a round at a US$35 billion valuation, raising about US$3.5 billion two weeks after releasing Kimi K3 — the latest step in a climb from a US$3.8 billion pre-money valuation in October 2025.
In May 2026 The Standard reported that StepFun had completed a funding round of about US$2.5 billion ahead of a planned Hong Kong listing, after converting into a joint-stock company in April.
On 28 January 2026 StepFun announced a Series B+ funding round of more than 5 billion yuan, described as a record for China's AI model sector. Yin Qi became chairman, while Jiang Daxin remained CEO.
In July 2024 Baichuan announced a round of about 5 billion yuan from investors including Alibaba, Tencent and Xiaomi, valuing the company at more than 20 billion yuan.
In February 2024 Alibaba led a US$1 billion funding round in Moonshot AI at a US$2.5 billion valuation, roughly eight times the startup's earlier valuation and, by reporting at the time, the largest single round for a Chinese AI startup.
On 12 May 2008 iFlytek, a speech-technology company founded by university students, listed on the Shenzhen Stock Exchange's SME board, becoming China's only listed intelligent-speech firm at the time after choosing the A-share market over Nasdaq.
