# Funding Related Articles

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The Wind of 'Proactive' AI Blows into Silicon Valley: Hark Secures $700 Million in Funding

Hark, an AI startup founded in late 2025, has raised $700 million in Series A funding at a $6 billion valuation. Led by Parkway Venture Capital with participation from NVIDIA, AMD Ventures, Intel Capital, Qualcomm Ventures, and Salesforce Ventures, the company aims to develop next-generation human-computer interfaces using a combination of proprietary foundational models and custom-built AI-native hardware. Founded by serial entrepreneur Brett Adcock, Hark envisions a system of multimodal devices equipped with agentic capabilities, end-to-end voice models, and personalized memory. This "active" AI approach seeks to move beyond passive chatbots, creating collaborative companions that anticipate needs and interact naturally within the real world. Adcock's experience with Figure, a humanoid robotics company, informs this hardware-focused venture. The article argues that while current AI is powerful, it remains confined to screens and traditional interfaces like chat. The next paradigm shift requires dedicated hardware that is always-on, possesses persistent memory, and enables intuitive interaction, potentially rivaling the impact of the iPhone. Hark is assembling a team with talent from Apple, Meta, Google, and Tesla to tackle this complex engineering challenge across models, hardware, and interaction design. Finally, the piece suggests Chinese startups may have an advantage in this "active" AI hardware space due to strong manufacturing ecosystems, a vast domestic market, and supportive government policies, framing the competition as one that requires integrated progress in models, operating systems, and devices.

marsbit05/28 10:22

The Wind of 'Proactive' AI Blows into Silicon Valley: Hark Secures $700 Million in Funding

marsbit05/28 10:22

Competitors Going Public, Kimi Can't Sit Still

Competitors Go Public, Kimi Feels the Pressure Yue Zhi An Mian (Moonshot AI), the company behind the AI assistant Kimi, has begun dismantling its VIE and red-chip structure, clearing a key obstacle for a potential Hong Kong IPO. This marks a significant shift from six months ago when founder Yang Zhilin stated the company was in "no hurry" to list. The move comes as rivals like Zhipu AI and MiniMax have successfully listed on the Hong Kong Stock Exchange in early 2026, experiencing massive surges in market value. This has reset valuation logic for AI companies, turning "going public" from an end goal into a competitive necessity. Analysts suggest Kimi is both seizing a favorable market window and responding to competitive pressure. Kimi's valuation has skyrocketed from around $3 billion at its 2023 founding to over $20 billion by May 2026. Capital is betting on its potential as a future AI platform and gateway, though some caution this "emotional valuation" depends on sustained technological leadership and successful commercialization. Traditionally focused on core model R&D over user growth, Kimi has recently pivoted strategy. While its monthly active users declined through 2025, it shifted focus to Agent development and reducing marketing spend. The release of its K2.5 model in early 2026 reportedly generated substantial revenue, with annual recurring revenue reaching $200 million by April, driven by subscriptions and API services. A $2 billion D-round financing in May signaled investor approval of this commercial shift. However, listing will bring new pressures. Experts predict a listed Kimi would face stricter scrutiny on financial controls, compliance, and R&D efficiency. The narrative must evolve from pure technological breakthroughs to demonstrating clear commercialization paths, sustainable income, and a defensible valuation, balancing model superiority with business performance.

marsbit05/28 10:02

Competitors Going Public, Kimi Can't Sit Still

marsbit05/28 10:02

Investors Frantically Snap Up AI Firms with 'No Profits': A High-Stakes Gamble on 'the Right to Define the Future'

"Investors are pouring billions into Chinese AI startups with no profits, betting on the future of the industry. A state-backed fund is reportedly in talks to lead DeepSeek's funding at a $45B valuation, just weeks after it was valued at $10B. Along with companies like Zhipu AI, MiniMax, and Kimi (backed by Meituan and Alibaba), their combined valuation exceeds $140B. This isn't a typical venture capital play. Investors are paying for 'future definition rights'—a chance to set the standards for the next tech era. Morgan Stanley notes a 6-12 month window for this scarcity premium before more AI companies go public. Despite massive losses, these companies show strong growth. Zhipu AI's API revenue grew 60x, Kimi's annual recurring revenue doubled to $200M in a month, and MiniMax turned its gross margin positive, with over 70% of revenue from overseas. Their valuations vastly exceed profitable firms like iFlytek. Crucially, technical progress underpins this growth. DeepSeek's latest model boasts costs just 1% of a leading competitor's, while Zhipu AI has raised API prices due to high demand. However, gaps with top global models remain. Tech giants like Tencent and Alibaba, investing heavily while describing their own AI efforts as 'leaky boats,' are also investing in these startups as a hedge. Key risks loom: the closing scarcity window, computing power bottlenecks limiting growth, and the sustainability of DeepSeek's cost-advantage model. With state capital now a major player, the success of these companies has become a strategic national concern. The next year will test if their soaring valuations can be justified by future profits."

marsbit05/26 02:06

Investors Frantically Snap Up AI Firms with 'No Profits': A High-Stakes Gamble on 'the Right to Define the Future'

marsbit05/26 02:06

Leading Players in Large Models Drain the Primary Market

The AI industry is witnessing an unprecedented concentration of capital into a handful of leading players, signaling what insiders call the "eve of a final shakeout." A staggering funding surge exceeding $7 billion hit just three Chinese companies in May alone—Kimi, StepFun (接近完成融资), and DeepSeek—with the latter's valuation reaching $45-$50 billion. Globally, giants like OpenAI, Anthropic, and SpaceX (set to merge with xAI) are preparing for public listings, collectively eyeing valuations over $3 trillion. This capital is no longer fueling a broad "hundred-model war" but is being funneled to "refuel" the final few contenders, following a sector-wide attrition rate exceeding 90%. This frenzy is driven by a fundamental shift in industry logic. The focus has moved from比拼模型智商 (competing on model intelligence) to "token factory economics." The explosion of long-context AI agents has massively increased token consumption per task. With token supply constrained by bottlenecks in HBM memory and power infrastructure—key factors in production costs—dominance now hinges on owning and efficiently operating large-scale compute resources. Major tech firms are investing hundreds of billions annually in this AI "power grid." Consequently, competition pivots to three core areas: 1) **Monetization** as the "AGI premium" cools, forcing a shift from user growth to revenue; 2) **Cost efficiency**, where reducing inference costs becomes the ultimate KPI as model capabilities commoditize; and 3) **Strategic path divergence** between enterprise-focused AI (prioritizing integration and reliability) and consumer-facing applications (betting on scale and user engagement). The message is clear: the final capital injections are determining the endgame lineup. Success will depend not just on technical prowess, but on transforming technology into a sustainable, profitable business model with demonstrable return on massive compute investments.

marsbit05/25 06:35

Leading Players in Large Models Drain the Primary Market

marsbit05/25 06:35

Hot Interactive Projects Collection | Catena Labs Waitlist Application; DogeOS Launches Points System (May 22nd)

Hot Interactive Compilation: Catena Labs Waitlist Application; DogeOS Launches Loyalty System (May 22) Original | Odaily Planet Daily(@OdailyChina) Author | Asher(@Asher_0210) 1. Catena Labs: AI Financial Infrastructure Catena Labs, an AI financial infrastructure founded by Circle co-founder Sean Neville, aims to build an "AI-native bank" framework enabling AI Agents to conduct payments, transfers, and asset management. It has applied for a New York trust bank charter with the OCC. On May 20th, it announced a $30 million Series A round co-led by Acrew Capital and a16z crypto. Interactive Tutorial: Visit the official website to apply for the waitlist by providing basic personal information. 2. DogeOS: Dogecoin Ecosystem Application Layer DogeOS is building an application development layer on the Dogecoin blockchain to support consumer apps like games and AI, aiming to enhance Dogecoin's ecosystem and DeFi services. On May 6th, it announced a $6.9 million funding round led by Polychain Capital. Interactive Tutorial: Connect your wallet on the official site, link your X and Discord accounts, join communities, and complete tasks to earn points in the new loyalty system. 3. Nof1: AI Research Lab for Financial Markets Nof1 is an AI research lab focused on financial markets, planning to launch a consumer-facing AI agent platform for market coding. On May 15th, it announced a $15 million funding round co-led by SUI Group and Karatage. Interactive Tutorial: Visit the official website and submit your information to join the waitlist.

Odaily星球日报05/22 03:11

Hot Interactive Projects Collection | Catena Labs Waitlist Application; DogeOS Launches Points System (May 22nd)

Odaily星球日报05/22 03:11

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