CATL Nears 2 Trillion Yuan Valuation
Shares of Contemporary Amperex Technology Co. Ltd. (CATL) hit a record high Monday, pushing its market capitalization close to 2 trillion yuan ($290 billion) as demand surged from artificial-intelligence (AI) data centers and energy storage. Only five companies listed on China’s A-share market have valuations above 2 trillion yuan, including Industrial and Commercial Bank of China Ltd., China Construction Bank, Agricultural Bank of China, PetroChina Co. Ltd. and China Mobile Ltd.
DeepSeek V4 expected in late April
Chinese AI company DeepSeek is expected to release its latest large model, V4, in late April, according to Reuters. The model features around 1 trillion parameters, uses a mixture-of-experts architecture and will run on Huawei Ascend processors. This marks the first frontier-level Chinese AI model built entirely on domestic chip infrastructure.
AI startup Shengshu Technology completes 2 billion yuan funding
Chinese AI startup ShengShu Technology announced the completion of a 2 billion yuan financing round led by Alibaba Cloud. The funds will be used to develop a general world model that processes sensory information to simulate human perception and interaction, a step the company views as crucial toward artificial general intelligence in physical environments. Founded in 2023 by Tsinghua University alumni, ShengShu previously released China’s first video generation model, Vidu.
MiniMax officially open-sources M2.7 model
Chinese large model developer MiniMax officially open-sourced its latest generation M2.7 model. The model features 229 billion parameters, and can autonomously build agent harnesses and drive its own iteration through reinforcement learning. The M2.7 scored 56.22% on the SWE-Pro benchmark, approaching the level of top international models. It has achieved zero-code modification adaptation on various AI chips, including those from T-Head, Huawei Ascend, Moore Threads, Iluvatar CoreX and Nvidia.
Contact editor Kelsey Cheng (kelseycheng@caixin.com)
