Co-founded by Mario Ho, NIP Group aims to become the first listed Chinese company in the esports industry.

Shanghai’s northeastern Yangpu district , which has already attracted Big Tech firms such as Meituan and Bilibili, has set its sights on smaller technology businesses to form an ecosystem for its growing digital economy.

The outpost will enable Chinese firms to acquire know-how from overseas entities and raise funds, chairman Xie Jihua said.

Established by a Chinese University of Hong Kong professor in 2019, SmartMore has been tasked with boosting the city’s technology ecosystem.

Biotech firm founder Elvis Yu and AI content company founder Wang Cong explain why they moved to Qianhai, but Hong Kong is key to plans.

The denial marks the latest dent on the reputation of flexible display maker Royole, which faces bankruptcy proceedings in Shenzhen.

Shanghai-based generative AI start-up MiniMax, which counts Alibaba as a major investor, has become a success in the Unites States on the back of its popular Talkie app.

The Chinese capital has dropped three places in a report ranking the world’s top 40 start-up ecosystems.

The tech billionaire had originally accused the ChatGPT maker, which he helped set up, of betraying its founding mission.

Apple plans to roll out new capabilities on its devices as part of a suite of new AI features later this year.

The DOJ will take the lead in investigating whether Nvidia violated antitrust laws, while the FTC will examine the conduct of OpenAI and Microsoft, sources say.

The OpenAI founder once promoted a different company at Apple’s 2008 developer conference, but the iPhone maker now needs the AI prowess of ChatGPT.

Zhipu AI is heating up a price war in a market segment where Big Tech firms Tencent, iFlytek, Alibaba and ByteDance are the prominent players.

Current and former employees say broad confidentiality agreements block them from voicing their concerns outside the companies.

The company, which runs a large sourcing centre in southern China, reportedly will file a confidential prospectus in the coming days.

Retail investors have rushed to subscribe to Tencent-backed AI drug researcher QuantumPharm on the first day of its HK$1.13 billion (US$144.5 million) IPO, encouraged by recent market rallies and listing reforms.

Under new leadership, ByteDance unit Nuverse is expected to focus on ‘fun games’, while adhering to long-term goals.

The price of AI services in China plummeted in May after ByteDance kicked off a price war by pricing access to its LLMs at 99.8 per cent below GPT-4.

Zhejiang Jingzhunxue, whose CEO is an Alibaba alumnus, received 200 million yuan from the e-commerce giant to develop an interactive AI education tool.

HSBC sees opportunities to lend against wealthy clients’ private assets, as it leverages its balance sheet strength to finance this fast-growing market.

Helen Toner says board members did not know about the 2022 launch of ChatGPT until they saw an announcement on Twitter.

The departure of AI experts from these Big Tech firms reflects increased investor interest in start-ups that could become the next OpenAI.

The Series B round comes less than a year after xAI’s debut and marks one of the bigger investments in the field.

The start-up, a rival to ChatGPT creator OpenAI, has been marketed to a range of Silicon Valley investors.

HSBC arranged a three-day tailored programme in California last week for its Asian private bank clients to meet Silicon Valley start-ups and venture capitalists.

Moonshot AI is in talks with investors for additional funding that will boost its valuation by US$500 million over its previous round in February.

Alibaba Cloud has slashed the fees for using its generative artificial intelligence models by up to 97 per cent, a week after ByteDance launched a rival service that costs less than most competitors.

Cloud Light Technology CEO Dennis Tong anticipates multiple years of 50 per cent growth as AI drives up demand for faster data centre resources.