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Headlines · 7
- Infinigence AI raises 2.3B yuan Series C, total funding reaches 4.3B yuan
Chinese AI infrastructure company Infinigence AI has closed a 2.3 billion yuan Series C round, bringing its cumulative funding to 4.3 billion yuan — a record for both a single round and total funding in China's AI infrastructure sector, according to multiple outlets. Founded in 2023 and incubated by the Tsinghua University electronics department's NICS-EFC lab, the company avoids building chips or training foundation models, instead working on heterogeneous compute scheduling and hardware-software co-optimization, and says its platform reaches 37,000P of compute across 16 mainstream chip types. It says daily token calls on its Agentic MaaS platform grew 40-fold from December, and that its cross-cluster heterogeneous PDD architecture cut first-token latency by 51.5% while reducing per-token cost by 37.5%; Bloomberg, citing people familiar with the matter, reported the company filed confidentially for a Hong Kong IPO.
智东西 · 🔥 0 - Moonshot AI in pre-IPO talks to settle 10.5% stake claim
Reuters reported on October 12 that Moonshot AI executives are negotiating a settlement with shareholder Recurrent.ai (Huanxiang Zhineng) and some of its investors, seeking to resolve before the company's Hong Kong listing a dispute that has gone to Hong Kong arbitration and dates back to 2024. Recurrent alleges that Moonshot CEO Yang Zhilin and CTO Zhang Yutao made misrepresentations, that servers holding key large language model data were moved without authorization from Recurrent to a Moonshot subsidiary in April 2023, and that other key data was deleted on Zhang's instructions in September 2024; Reuters said the letter provided no evidence and it could not independently verify the claims. The claimants seek compensation equal to 10.5% of Moonshot's original shares, which people familiar said could exceed $700 million based on the company's $30 billion valuation at its June funding, while Bloomberg reported a latest round at about $50 billion. Moonshot has confidentially filed for a Hong Kong IPO; Yang has denied the allegations, his lawyers say the case lacks legal and factual basis, and whether a settlement will be reached is unclear.
IT之家 AI · 🔥 0 - Manus raises over $500M, reportedly at a $4B valuation
On October 8, Manus parent Butterfly Effect announced a new funding round of more than $500 million, led by Boyu Capital and IDG Capital with existing backers Tencent, Sequoia China and ZhenFund participating; no valuation was disclosed, though Bloomberg previously reported a target of about $4 billion. It is Manus's first outside funding since it resumed independent operations on September 1, after Meta's acquisition was blocked by regulators in April and the founding team and investors bought the shares back at a $20 billion... correction: at a $20 billion figure was the buyback valuation reported by Bloomberg, with Tencent becoming the largest outside shareholder. On September 28 Manus released version 2.0 and a personal agent app, Cue; reports say its annualized revenue run rate has reached $400-500 million, though the revenue mix has not been disclosed.
钛媒体 · 🔥 0 - ByteDance AI drug spinout Anew Labs raises $290M angel round
Anew Labs, which spun out of ByteDance in June 2026, raised a $290 million angel round in September 2026 at a reported valuation of about 10 billion yuan, which the report calls China's first AI drug-discovery company to reach that valuation in a first round. Investors include Sequoia China, IDG Capital, Hillhouse Venture Capital, Five Source Capital, Gaorong Ventures, Primavera Venture Partners and Boyu Capital, with Sino Biopharmaceutical and the Shanghai Future Industry Fund joining as strategic investors; ByteDance remains the controlling shareholder and continues to supply Volcano Engine compute. The company has released biological AI models Protenix and PXDesign along with AnewMind, a scientific reasoning model for drug-development decisions, and lists four preclinical pipeline assets, with a lead oral small-molecule candidate it describes as the world's first to target both IL-17A and IL-17F, currently in preclinical lead optimization. Anew Labs said it is focused on R&D and declined an interview.
虎嗅 AI · 🔥 0 - Manus raises over $500M at reported $4B valuation after Meta deal collapse
According to a TMTPost article, Butterfly Effect, Manus's parent company, said in an Oct. 8 announcement that it closed a new funding round of more than $500 million, led by Boyu Capital and IDG Capital, with existing backers Tencent, Sequoia China and ZhenFund following on. No post-money valuation was disclosed; the article cites late-September media reports putting it at roughly $4 billion — about double the nearly $2 billion Meta had agreed to pay before that acquisition was halted and the company returned to independent operation on Sept. 1. The article also describes the Sept. 28 launch of Manus 2.0 and the Cue personal agent app, the building of a China-focused team with domestic model partners, and ARR said to have grown from $100 million in December 2025 to a $400–500 million range by end-June 2026 — figures that were not officially confirmed.
钛媒体 · 🔥 0 - Kunwei raises ¥400M for AI ultrasound platform that images through the skull
Shenzhen-based Kunwei Technology has raised a ¥400 million round joined by new investors XVC and Sequoia China, with existing backers Sherpa and Tencent adding more. The company says it abandoned the industry's push for higher frequencies and instead pairs low-frequency ultrasound with a self-developed deep-learning model that processes roughly 10GB of raw echo data per second, producing real-time high-resolution images of brain tissue and blood flow through the intact skull; it plans to sell both hardware and its kOS software platform to brain-computer-interface and NeuroAI researchers. Kunwei says it has booked tens of millions of yuan in orders, though the imaging comparison shown to reporters has not been independently verified and no regulatory approvals were disclosed.
极客公园 · 🔥 0 - Manus parent Butterfly Effect raises over $500M at reported $4B valuation
Butterfly Effect, the parent of AI agent startup Manus, said on Oct. 8 it raised more than $500 million (~3.35 billion yuan) in a round led by Boyu Capital and IDG Capital, with existing backers Tencent, Sequoia China and ZhenFund joining. Bloomberg had reported the round at a roughly $4 billion valuation, double the prior $2 billion, and Chinese media called it the largest single round for a China-based agent-native startup. It is the company's first raise since Beijing forced Meta to unwind its roughly $2 billion acquisition, and follows the Sept. 29 release of Manus 2.0 and the multi-agent group chat app Cue; the company says its in-house Cascade framework cut token use 23.2%, task time 28.2% and running cost 32% in one test configuration.
智东西 · 🔥 0
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