The Number
- Zhipu reports $16B ARR as of August against RMB 954M first-half revenue up nearly 400% year on year, per 极客公园.
- MiniMax reports $800M ARR as of August on $117M first-half revenue up 283% year on year, per 极客公园.
- Qwen3-max lists at RMB 2.5 per million input tokens in the 0-32K tier on DashScope, its cheapest flagship tier as of Sept 3, per Alibaba's pricing page.
- Kimi K3 ships as Moonshot's flagship at a 1M-token context window, listed on its pricing docs as of Sept 3, per Moonshot.
Top of the Fold
- Zhipu and MiniMax file their first earnings as public companies within five days of each other, and the ARR gap flatters Zhipu while both report near-identical adjusted losses close to $300M, per 极客公园.
- 陈大年 returns to the industry with a large-model debut its backers place near DeepSeek's trillion-parameter flagship, a claim that stays company-stated until independently tested, per 量子位.
- Tencent opens its WorkBuddy agent platform to over 100 hardware and software partners including 科大讯飞, Anker and Rokid, a bid to make the agent the layer that reaches devices, per 量子位.
- 地平线 says its 征程 driving chip has passed 15M units in cumulative mass production, adding the last 5M in 12 months, per 雷峰网.
Untranslated
- 智谱's and MiniMax's mid-year reports show actual booked revenue near parity, roughly $142M against $117M, undercutting the ARR-led framing that Zhipu is far ahead, per 极客公园.
- Fullive.ai, a床头 sleep-hardware startup under a year old, closes a third round with 高瓴 backing all three and 招商局创投 leading the latest, its Somni radar device nearing mass production, per 极客公园.
- 商汤 runs a scholarship program that in 2018 gave undergraduates like 王延森 RMB 20,000 for pre-Transformer chatbot work others dismissed, now framed as an early-talent bet, per 雷峰网.
- 华为 relaunches its 奥林帕斯 global prize around Agentic-AI-era storage problems, signaling where it wants outside research pointed, per PaperWeekly.
The Backstory
- Fullive.ai founder 郑昊 read math at Tsinghua before crossing biostatistics, causal inference, AI, medicine and hard-tech investing, and co-founder 韦骁龙 came from Huawei and Honor consumer electronics, per 极客公园.
The Kicker
- 量子位 runs a piece headlined "CS students with no token budget should drop out now," a joke about coursework banning by-hand coding and making students pay for their own tokens, per 量子位.
