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StepFun

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Qiming Venture Partners

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  1. StepFun Ships 600B-Parameter Model To Challenge US LabsChinese AI lab StepFun released Step 5 Preview, a 600-billion-parameter sparse mixture-of-experts model with a 1-million-token context window, priced at $1 per million input tokens and promising open weights on October 15.→
  2. US Agencies: China's AI Strategy Is Copying OursThree US agencies say six Chinese AI companies, including DeepSeek and Alibaba, are running industrial-scale efforts to extract capabilities from American models through gray-market proxy access rather than legitimate licensing.→
  3. Frontier Labs and Robotics Keep Dominating Crunchbase's Unicorn BoardFrontier AI labs and robotics companies topped Crunchbase's new-unicorn count for consecutive months in 2026, with DeepSeek joining Chinese peers like Moonshot AI and StepFun in raising billion-dollar rounds this quarter.→

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  1. Sep 20, 2026AIStepFun Ships 600B-Parameter Model To Challenge US Labs→

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StepFun Ships 600B-Parameter Model To Challenge US Labs

Illustration for: StepFun Ships 600B-Parameter Model To Challenge US Labs
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StepFun Ships 600B-Parameter Model To Challenge US Labs

Chinese AI lab StepFun released Step 5 Preview, a 600-billion-parameter sparse mixture-of-experts model with a 1-million-token context window, priced at $1 per million input tokens and promising open weights on October 15.

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StepFun FAQ

Who are StepFun's investors?

StepFun's investors include Qiming Venture Partners.