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A tech investor outlines four structural issues facing China's tech and startup sector: Hong Kong stock risks, theme rotation under the 15th Five-Year Plan, a hesitating global AI narrative favoring U.S. equities, and macroeconomic downturn pressures.
Financial Times reports that Anthropic, an AI company, could plausibly reach a $2 trillion valuation.
Hugging Face is exploring a sale that could value the AI developer platform at $13 billion, nearly triple its 2023 valuation, highlighting its role in AI distribution and developer access.
OpenAI is reportedly leaning toward a 2027 IPO, while the US government asks the company to slow the release of GPT-5.6 to a controlled preview, highlighting tensions between market expectations and regulatory concerns.