Tencent Holdings Ltd.’s Yuanbao AI chatbot passed DeepSeek to become the most downloaded iPhone app in China this week, highlighting the intensifying domestic competition.Most Read from BloombergCuts

Chinese multinational firm Tencent has launched a new AI model to compete with DeepSeek's R1 AI model. DeepSeek launching its AI model had created waves in the global tech industry and had led to a massive rout in tech stocks globally.

Chinese AI startup Zhipu, which is backed by companies including Alibaba (NYSE:BABA) and Tencent Holdings (OTCPK:TCEHY), has secured more than 1 billion yuan ($137.22 million), in its latest funding round.

Chinese artificial intelligence startup Zhipu AI has raised more than 1 billion yuan ($137.22 million) in fresh funding, months after securing a 3 billion yuan investment. The funding round comes amid intensifying competition in China's AI sector,

Chinese artificial intelligence startup Zhipu AI has raised over a billion yuan ($137M) in fresh funding. To date, the company has raised the equivalent of