Follow the money in China’s AI ecosystem
Who funds the frontier labs, which companies reach the public markets, and how export controls reshape the semiconductor supply chain. Capital tells the real story of China’s AI ambitions — we track it for European investors and companies.
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Alibaba’s $10 Billion AI Bet Has a European Address
The largest share placement in Hong Kong’s history — 60% for global computing infrastructure, 40% for hyperscale AI data centres and an ‘Agentic Cloud’. With regions in Frankfurt, London and now Paris, part of…
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Microsoft, Amazon and Google Are Talking to Moonshot AI — and the Ask Is 30 Per Cent
Reuters reports Moonshot wants up to 30% of revenue from hosting Kimi K3 on Azure, AWS and Google Cloud. It…
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China’s AI Just Raised Prices — and It’s Still Winning the Price War
DeepSeek hiked API prices up to 12x this week and still costs a fraction of US frontier models. Bloomberg asks…
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Unitree: The $9 Billion Company Behind the Viral Robots
Kung-fu videos made Unitree famous. A record IPO, a DeepSeek alliance and $4,900 humanoids make it important.
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AgiBot: The Three-Year-Old Company That Became the World’s Largest Humanoid Maker
44% global market share, 562% growth, a Hong Kong IPO on the way — inside the new world No. 1…
What we watch
Frontier-lab funding
Rounds and valuations at Zhipu, Moonshot, MiniMax and DeepSeek — and the strategic money behind them, from Alibaba and Tencent to state funds.
Public markets
AI listings on Shanghai’s STAR Market and in Hong Kong — since Unitree’s 2026 record listing, the first humanoid-robotics stocks among them.
State capital
Government guidance funds and local vehicles channelling public money into models, chips and data centres.
The chip variable
US export controls, Huawei and SMIC alternatives, and what compute scarcity does to frontier training.
Public markets
The IPO pipeline
Chinese AI companies we cover that have listed or are preparing to — Hong Kong for the model labs, Shanghai’s STAR Market for ModelBest.
Graphic: Inside China AI · Sources as linked in each article; status October 2026.