This article was published on July 20, 2026 Lee conceded the model race after DeepSeek. 01.ai now fine-tunes open-weight models and wraps them in data software for enterprises. Half of its business is outside China. 01.ai is pursuing a 2027 Hong Kong IPO after pivoting from building AI models to enterprise data infrastructure. Lee calls the product “Boss AI” and the company “the Palantir of China.” Kai-Fu Lee’s 01.ai is raising a pre-IPO round ahead of a planned Hong Kong listing in 2027, the former Google China chief told Bloomberg at the World AI Conference in Shanghai. The company is unwinding its offshore holding structure, the same prerequisite that Moonshot dismantled in May to clear its own path to a Hong Kong debut. Lee said the funding round would close around the time 01.ai publishes its first annual results. The fiscal year ends in December. The story behind the IPO is a strategic retreat that turned into a business. Lee founded 01.ai in 2023 to build frontier AI models and raised it to a $1 billion valuation with backing from Alibaba’s cloud unit. Then DeepSeek’s open-weight releases collapsed the economics of model training. Lee conceded the race. “Only a handful of co
Jul 20, 2026 → Aug 10, 2026
Muse Glimmer — essentially an open-weight version of Meta’s Muse Spark — is a 30 billion parameter model that can run on a Mac or PC with a single graphics card, allowing users to generate code, text, and images. While bigger parameter…
Read original at The Verge →7 updates from 5 sources over 3 weeks.
Muse Glimmer — essentially an open-weight version of Meta’s Muse Spark — is a 30 billion parameter model that can run on a Mac or PC with a single graphics card, allowing users to generate code, text, and images. While…
Read original at The Verge →For years, Situational Awareness was closely tracked by Wall Street, members of the AI community and its founder’s fiercest followers. Outside those circles, however, the multibillion-dollar hedge fund remained largely…
Read original at CNN →Aliera Iheanacho had banked more than 100,000 United Airlines miles, hoping she could one day experience a first class, lie-flat seat experience. But that dream will have to wait. This summer’s high airline ticket…
Read original at CNN →Shein says it swung to a quarterly loss as its sales slowed after US President Donald Trump removed an import duty exemption on small packages. It also comes as uncertainty remains over the tit-for-tat US-China tariffs…
Read original at BBC →A planned funding round at Hangzhou, China-based hedge fund and unexpected AI juggernaut DeepSeek has probably been cancelled. According to a very delicately worded Bloomberg report, this comes just on the heels of the…
Read original at Gizmodo →This article was published on July 22, 2026 Moonshot AI is raising money at a speed Silicon Valley rarely sees. Fresh off the launch of Kimi K3, the Chinese lab is closing one funding round and lining up another that…
Read original at The Next Web →This article was published on July 20, 2026 Lee conceded the model race after DeepSeek. 01.ai now fine-tunes open-weight models and wraps them in data software for enterprises. Half of its business is outside China.…
Read original at The Next Web →What this story stands on. Tier 0 is a primary record or the subject's own words; higher tiers must be attributed, never stated as bare fact.
Muse Glimmer — essentially an open-weight version of Meta’s Muse Spark — is a 30 billion parameter model that can run on a Mac or PC with a single graphics card, allowing users to generate code, text, and images. While bigger parameter…
View source →For years, Situational Awareness was closely tracked by Wall Street, members of the AI community and its founder’s fiercest followers. Outside those circles, however, the multibillion-dollar hedge fund remained largely unknown. But that…
View source →Aliera Iheanacho had banked more than 100,000 United Airlines miles, hoping she could one day experience a first class, lie-flat seat experience. But that dream will have to wait. This summer’s high airline ticket prices, driven by the…
View source →Shein says it swung to a quarterly loss as its sales slowed after US President Donald Trump removed an import duty exemption on small packages. It also comes as uncertainty remains over the tit-for-tat US-China tariffs wars, which is…
View source →A planned funding round at Hangzhou, China-based hedge fund and unexpected AI juggernaut DeepSeek has probably been cancelled. According to a very delicately worded Bloomberg report, this comes just on the heels of the supposed leak of a…
View source →This article was published on July 22, 2026 Moonshot AI is raising money at a speed Silicon Valley rarely sees. Fresh off the launch of Kimi K3, the Chinese lab is closing one funding round and lining up another that could value it at $50…
View source →Tier key: T0 = Primary source · T1 = Wire · T2 = Outlet report · T3 = Commentary
American AI companies’ performance lead over China narrowed sharply in past months to a record low after labs such as DeepSeek gained ground, threatening US tech supremacy,…
French AI lab Mistral AI has released Mistral Large 4, a new large multimodal model aiming to leapfrog both American and Chinese rivals.
Paramount has officially completed its $111 billion acquisition of Warner Bros. Discovery, but the company's announcement of the deal closing did not contain a single mention of…
President Donald Trump is set to unveil South Korea’s plan to invest some $200 billion in the US, including $54 billion for a long-stalled venture to export natural gas from…
China is reportedly mulling letting ByteDance, Alibaba buy banned Nvidia chips.
Umar Kremlev said US President Donald Trump’s son had repaid the money the Russian tycoon had spent on post-wedding celebrations he hosted as a gift.
