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Butterfly Effect, the parent company of Chinese AI agent Manus, recently completed a new funding round of more than $500 million, the company announced on October 8. Boyu Capital and IDG Capital led the round. Existing investors Tencent, HSG and ZhenFund also participated in the financing.
Huawei and Qualcomm announced a multi-year patent licensing agreement on October 5 covering cross-licenses to their patent portfolios in 5G, computing, AI and networking. The agreement also includes Qualcomm’s purchase of certain Huawei U.S.
Chinese developers generated 52% of their App Store revenue from overseas markets in 2025, up from 32% in 2020, according to a study released by Apple on October 8.
Kling AI, Kuaishou’s AI video-generation business, has selected banks for a potential Hong Kong initial public offering that could raise at least $1 billion, Bloomberg reported on October 6, citing people familiar with the plans.
Freelander, the standalone car brand developed through a partnership between Chery and Jaguar Land Rover, has confirmed plans to enter the UK as part of a phased international expansion, Autocar reported on October 6.
DeepSeek is close to securing at least RMB 80 billion ($12 billion) in a new funding round, with Tencent and battery maker CATL among the largest investors, Bloomberg reported on October 6, citing people familiar with the matter.
Xiaomi announced expanded integration with Apple devices in HyperOS 4 on October 7, outlining features that let users share photos, files, contacts and web pages across the two ecosystems.
BYD plans to hold an overseas launch event for its Yangwang luxury vehicle brand, the company said in a record of its September 29 shareholder meeting. It did not give a date or location for the event.
ByteDance is reportedly testing a personal AI assistant tied to Doubao and plans to release it as a standalone app. The product has been given the tentative Chinese name Xiaodou (小豆), according to a report cited by IT Home.
Moonshot AI’s Kimi K3 is entering OpenAI’s enterprise Codex channel through US inference provider Baseten. Enterprise customers can count use of the Chinese model against their existing OpenAI spending commitments.
Meituan made LongCat-2.5-Preview available through its API platform on September 25, adding image understanding to the company’s AI model lineup. The new model can answer questions about images, summarize visual content and handle more complex visual reasoning tasks, according to its documentation.
AITO opened presales for the updated M8 SUV on September 30, with prices starting at RMB 389,800 ($54,700). The new model comes with Huawei’s ADS 5 driver-assistance system and a vehicle architecture designed with future Level 3 automated driving in mind.
Ant Group’s InclusionAI has launched Ling-3.1-flash, a language model with 560 billion total parameters and about 25 billion activated for each token. The company is positioning it for agent tasks, search, office software and specialist applications.
smart previewed engineering details for its upcoming all-electric smart #2 at a Beijing workshop on Sept. 28, ahead of the model’s world premiere at the Paris Motor Show on Oct. 12. The two-seat car is built on a purpose-designed Electric Compact Architecture for vehicles under 3 meters long.
Developers reportedly spotted a “kimi-k3-1” identifier in Moonshot AI’s API model registry, alongside a preview indicating a context window of up to 1 million tokens. The surfaced information also pointed to several reasoning levels, though the details have not been confirmed.
LatePost reported that Xiaomi’s September promotion list elevated Luo Fuli, who leads the company’s MiMo large-model team, to level 22. A person familiar with Xiaomi told the outlet that level 22 is the company’s highest rank.
AMD has reached a definitive agreement to acquire World Labs, the AI research lab co-founded by Fei-Fei Li, in an all-stock deal valued at about $8.2 billion. World Labs develops spatial-intelligence models that generate, reconstruct and simulate interactive 3D environments.
Tencent is recruiting closed-beta testers for Goose Dimension, a product described in local reports as an AI game companion. It reportedly supports voice chat and can recognize game screens to respond to what is happening in a game.
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