Chinese multinational technology conglomerate operating WeChat, online gaming, social media, fintech, and cloud services, with major AI investments including DeepSeek.
Tencent, Zhipu, Alibaba and DeepSeek are locked in an intensifying open-weight model race, backed by a domestic chip industry drawing roughly $98 billion in spending as China reduces reliance on Nvidia.
Jul 7, 2026Shenzhen-based Even Realities raised $150 million led by Meituan and Tencent at a $1 billion valuation, becoming the first camera-free smart-glasses maker to sell more than 10,000 pairs.
Jul 6, 2026Tencent released Hy3, an Apache-licensed 295B open model with 21B active parameters, matching or beating GLM-5.2's roughly 744B model on most benchmarks except coding, intensifying China's open-weight model race.
Jul 6, 2026Tencent's Apache-licensed Hy3 model wins most benchmarks against GLM-5.2 at roughly half the parameter count, though it still trails on coding tasks, intensifying China's open-weight model race.
Jul 6, 2026Tencent released Hy3, an Apache-licensed open-weight model roughly half the parameter count of Zhipu's GLM-5.2, claiming wins across most benchmark categories except coding tasks -- intensifying the open-model race among Chinese AI labs.
Jul 6, 2026DeepSeek closed a $7.4B round backed by Tencent, CATL, JD.com, NetEase and IDG Capital, vaulting past a $50B valuation to become China's most valuable AI startup. The raise is a direct answer to the US frontier labs and a statement that the model race is now a two-superpower contest.
Jun 16, 2026The largest AI financing out of China this year: $7.4B from a strategic syndicate that hands DeepSeek both capital and distribution. At a $50B+ valuation, it is now the anchor of China's frontier-model ambitions.
Jun 16, 2026