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The U.S. approved several Chinese companies to buy Nvidia’s H200 AI chips, but deliveries remain stalled amid political pressure and security concerns in both Washington and Beijing.
China has approved AI startup DeepSeek to purchase Nvidia H200 chips, with conditions still being finalized. The move follows U.S. export approval and comes amid scrutiny over potential military use.
Chinese AI startup Stepfun secured $719 million to accelerate foundational model development, AI agents, and AI-driven products in collaboration with Geely.
China-based AI startup MiniMax raised $620 million in its Hong Kong IPO, with shares doubling on the first day. The company develops large language models and AI applications for global users.
Tencent posted 15% year-on-year revenue growth in Q3 2025, driven by AI-enhanced advertising, gaming expansion, and stronger cloud services, surpassing analyst expectations.