China’s OpenAI Rivals Reveal IPO Economics
Chinese generative AI startups MiniMax and Zhipu AI have disclosed their financials ahead of potential Hong Kong listings, highlighting modest revenues and mounting losses compared with U.S. peers.
Perplexity is a language-model evaluation metric derived from average cross-entropy loss. Intuitively, it reflects how many plausible choices the model appears to consider at each step; lower perplexity means the model assigns higher probability to the observed sequence. It is useful for comparing similar models on the same tokenized dataset, but it is not directly comparable across different vocabularies, tokenizers, or evaluation procedures. A lower score does not necessarily mean responses are more factual, helpful, safe, or preferred by people. Data contamination can also produce deceptively strong results. Perplexity is best treated as a training and predictive-fit measure alongside task-specific and human evaluations.
Chinese generative AI startups MiniMax and Zhipu AI have disclosed their financials ahead of potential Hong Kong listings, highlighting modest revenues and mounting losses compared with U.S. peers.
Amazon is reportedly in early talks to invest up to $10 billion in OpenAI in a deal tied to the use of its AI chips. The discussions reflect a broader trend of circular partnerships shaping the AI infrastructure market.
OpenAI has released GPT-5.2, a new model series designed to improve professional knowledge work with major gains in reasoning, coding, long-context analysis, and vision. The update brings enhanced performance to ChatGPT and the API across Instant, Thinking, and Pro variants.
Disney and OpenAI announced a three-year licensing deal allowing Sora to generate fan-inspired short videos featuring over 200 Disney, Marvel, Pixar, and Star Wars characters.
Google introduced the Titans architecture and the MIRAS framework to enable AI models to handle massive contexts and update their internal memory while running, improving performance in long-sequence tasks.
ChatGPT now reaches more than 800 million weekly users, creating a powerful adoption flywheel that is speeding the transition from AI experimentation to full-scale enterprise deployment, according to OpenAI’s new 2025 report.
Cristiano Ronaldo has taken an equity stake in Perplexity and will serve as a global partner, marking one of the most high-profile collaborations between elite sports and AI search technology.
Amazon’s AI shopping assistant Rufus saw a sharp spike in Black Friday usage, fueling significantly higher purchase-conversion rates compared with non-AI sessions, according to new data from Sensor Tower and Adobe Analytics.
Amazon employees demand ethical AI practices, warning that the company’s fast-paced AI rollout risks worker safety, democratic oversight, and environmental sustainability.
OpenAI and Perplexity introduced AI shopping tools this week, helping users find products through chat-based queries. Experts say startups with niche datasets may still outperform general-purpose chatbots.