# Market Share Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Market Share", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Anthropic's New Models 'Catch the Gossip', The Strongest Fable 5 Unexpectedly Falls Flat

Anthropic has been discovered working on two new, previously unknown models codenamed "Marshmallow" (claude-marshmallow-eap) and "Melon" (claude-melon-eap), with early tests showing Marshmallow potentially surpassing Claude Opus 5 in conversational naturalness. Their emergence coincides with surprising new data revealing that Anthropic's flagship Fable 5 model, released two months ago as its strongest and most expensive offering, is being largely ignored by the enterprise market. According to spending data from Ramp tracking over 70,000 US companies, Fable 5 accounts for only about 11% of total token spending on Anthropic's models. This pales in comparison to OpenAI's flagship GPT-5.6 Sol, which commands roughly 25% of token spending in the same period. The tepid adoption is largely attributed to Fable 5's extremely high cost—double that of Opus 4.8 and ten times that of Haiku 4.5—without delivering proportionally superior performance for most business applications. Compounding the issue, the later-released Claude Opus 5, priced at half the cost of Fable 5, has achieved comparable or even better results in key benchmarks like programming and knowledge work, quickly surpassing Fable 5 in enterprise spending share. Furthermore, the rapid rise of powerful, low-cost open-source models—whose token usage share surged from 11% in April to 62% in August while costing less than 4% of enterprise AI budgets—applies additional pressure. Analysts suggest the sudden appearance of Marshmallow and Melon may be an urgent move by Anthropic to address this gap in its lineup. The goal is to offer models that are not only powerful but also cost-effective enough for businesses to adopt widely and sustainably, moving beyond a flagship that serves more as a showcase than a workhorse.

marsbitYesterday 01:05

Anthropic's New Models 'Catch the Gossip', The Strongest Fable 5 Unexpectedly Falls Flat

marsbitYesterday 01:05

Calterah Races for the STAR Market: 31% Market Share, Over 900 Million in Losses, the Berkeley Mentor-Student Duo's Path to Breakthrough in Millimeter-Wave Radar

Calterah Microelectronics (Calterah), a Shanghai-based automotive chip company specializing in millimeter-wave radar chips, has filed for a listing on China's Sci-Tech Innovation Board (STAR Market), seeking to raise 3.49 billion yuan. Founded in 2014 by Dr. Chen Jiashu, a UC Berkeley PhD, and his professor Ali Niknejad, Calterah pioneered the use of CMOS technology for automotive-grade 77GHz radar chips, challenging the dominance of global giants like Texas Instruments. The company has grown rapidly, with revenue soaring from 206 million yuan in 2023 to 632 million yuan in 2025. It holds a 31.1% share in China's automotive millimeter-wave radar chip market and a 4% global share, with cumulative shipments exceeding 30 million chips for clients including BYD, Geely, NIO, Volvo, and Rivian. Despite strong market traction, Calterah faces significant financial challenges. It has reported cumulative net losses exceeding 900 million yuan over the past three and a half years, driven by massive R&D spending, which accounted for 147.75% of revenue in 2023. Operating cash flow remains negative, and the company relies heavily on external financing. Other risks include high customer and supplier concentration, with its top five distributors accounting for over 99% of revenue and overseas procurement exceeding 50%. Supply chain security is a concern due to reliance on foundries like TSMC. The proceeds from the IPO will fund R&D for high-performance radar chips, ultra-wideband (UWB) chips for applications like digital car keys, and a new technology center. Calterah aims to expand beyond automotive into industrial and consumer sectors. However, it faces intense competition, potential price wars, and the long, costly cycle of automotive-grade certification. Its path forward hinges on achieving profitability, maintaining technological leadership, and building a sustainable business model in a fiercely competitive global market.

marsbit08/17 12:25

Calterah Races for the STAR Market: 31% Market Share, Over 900 Million in Losses, the Berkeley Mentor-Student Duo's Path to Breakthrough in Millimeter-Wave Radar

marsbit08/17 12:25

Gateland Ventures into the Science and Technology Innovation Board, Accumulating Over 900 Million in Losses in Three and a Half Years

Gatelan Microelectronics (Shanghai) Co., Ltd., a pioneer in China's automotive-grade millimeter-wave radar SoC chips, has filed for an IPO on Shanghai's STAR Market. Founded in 2014 by Dr. Jiashe Chen, a UC Berkeley PhD, the company achieved a milestone in 2017 by mass-producing the world's first automotive-grade 77GHz CMOS millimeter-wave radar RF front-end chip. This broke the long-standing monopoly of foreign giants and enabled wider adoption in affordable vehicles. By Q1 2026, Gatelan's chips had shipped over 30 million units. It holds approximately 31% of the domestic market share for automotive millimeter-wave radar chips and ranks fourth globally with a 4% share. Its 4T4R 4D radar SoC chips dominate their segment with a 66% share. Clients include major Chinese automakers like BYD, Geely, and NIO, as well as international Tier 1 suppliers and OEMs including Volvo. Financially, the company shows rapid revenue growth, rising from 206 million RMB in 2023 to 632 million RMB in 2025 (a 108% year-on-year increase), with a gross margin around 48%. However, it remains unprofitable, reporting net losses of 323 million, 334 million, and 193 million RMB from 2023 to 2025, and a 60.3 million RMB loss in Q1 2026. High R&D investment, accounting for up to 147.75% of revenue in 2023, is the primary cause. The IPO aims to raise approximately 3.49 billion RMB to fund R&D and industrialization projects for next-generation chips. Despite current losses, its operating cash flow significantly improved in 2025, suggesting a potential path to profitability as revenue scales.

marsbit08/14 10:31

Gateland Ventures into the Science and Technology Innovation Board, Accumulating Over 900 Million in Losses in Three and a Half Years

marsbit08/14 10:31

Trading Volume Halved: Korea's Two Major Crypto Exchanges Launch Listing Wars

As South Korea's stock market cools from its peak summer performance, leading cryptocurrency exchanges Upbit and Bithumb are intensifying their competition to list new digital assets. Following a significant slump in crypto trading volume during the first half of 2025—with total volume across five major KRW-based exchanges falling nearly 50% year-on-year as capital flooded into equities—the two exchanges have sharply increased their listing pace since July. In just over a month, both Upbit and Bithumb have each added 17 new KRW-trading pairs, far exceeding their average of 6-10 listings per month earlier in the year. This acceleration coincides with a decline in the Korean Composite Stock Price Index's (KOSPI) daily trading volume and a reduction in the proportion of retail investor participation in stocks. Analysts suggest that with the stock market's "wealth effect" diminishing, crypto exchanges are now competing more aggressively for the limited attention and risk capital of local retail investors. The newly listed assets are already contributing significantly to trading activity on the platforms. On Upbit, for example, several coins listed since July now rank among its top-traded assets by volume, collectively accounting for nearly 20% of its 24-hour trading volume recently. However, this surge in new listings appears to be primarily redistracting existing capital within the shrunken crypto market rather than attracting substantial new inflows. Consequently, the strategies of the two dominant exchanges, which together control about 96% of the KRW crypto trading market, are becoming increasingly similar, with both rushing to list the same trending assets to prevent the other from capturing all available trading demand.

marsbit08/11 12:31

Trading Volume Halved: Korea's Two Major Crypto Exchanges Launch Listing Wars

marsbit08/11 12:31

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