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Analysis: Chinese AI companies such as Zhipu and MiniMax have high valuation multiples, with sales multiples exceeding those of their American counterparts by dozens of times

According to an analysis by Tommy, there is a significant gap in valuation and revenue conversion for Chinese open-source AI companies, with their price-to-sales ratio (P/S) far exceeding that of leading counterparts in the United States.Data shows that Zhipu, which developed the GLM 5.2 model, currently has a market value of approximately $137 billion, but its revenue for the fiscal year 2025 is about $107 million, resulting in a price-to-sales ratio as high as 1280 times; MiniMax has a market value of about $23 billion, with a price-to-sales ratio of approximately 290 times. In contrast, the valuations of leading AI laboratories in the United States are more solid, with OpenAI (valued at about $852 billion) and Anthropic (valued at about $965 billion) having price-to-sales ratios of only 34 times and 21 times, respectively.It is believed that due to overseas users' concerns about data privacy, they are unwilling to send data directly to China, resulting in the massive demand for Chinese AI companies not being converted into actual API revenue, leading to significant profit loss to overseas third-party inference service providers (such as OpenRouter, etc.). To support their current high valuations, Chinese AI companies urgently need to prove their data non-retention mechanisms and capture the market at low prices, or explore revenue-sharing and initial licensing collaborations with overseas inference platforms to expand their actual revenue scale.

DGrid AI has officially partnered with MiniMax to expand the decentralized model ecosystem

The decentralized AI infrastructure network DGrid AI announced an official partnership with MiniMax. Both parties will provide low-cost, high-availability access to MiniMax models for global developers and agents through the DGrid decentralized AI Gateway, jointly promoting its adoption in a broader ecosystem.DGrid is a decentralized AI infrastructure that aggregates mainstream AI models from around the world. It currently connects over 200 models, including Claude, GPT, and Gemini, enabling one-stop access through a unified API. The platform is aimed at developers and AI agent builders, offering high-availability, low-latency model access services, and is committed to lowering the entry barriers and usage costs for AI applications.MiniMax is a global leader in general artificial intelligence across all modalities and is one of the few AI companies capable of self-developing models for text, voice, video, music, and other modalities. This official collaboration with MiniMax represents another significant expansion for DGrid on the model supply side, marking a new step in connecting mainstream model vendors and building a decentralized AI ecosystem. With the integration of more high-quality models, DGrid is becoming a unified entry point for AI developers to access diverse model capabilities, providing more flexible and open infrastructure support for the next generation of intelligent applications.As part of the initial collaboration, MiniMax's flagship model M3 has been launched on DGrid, and DGrid Premium users can enjoy a 55% discount directly.

Bitget launches the first animated digital human "Gracy AI" in the cryptocurrency industry

Bitget announces the launch of Gracy AI, the first animated digital person in the cryptocurrency industry, aimed at introducing the mindset of real managers and long-term decision-making perspectives into user interactions through one-on-one conversations. Gracy AI is built on the experience and decision-making logic of Bitget CEO Gracy Chen, focusing on topics such as market cycles, industry trends, strategic thinking, and career development, helping users form clearer judgments in a complex market environment.This product is also an important part of Bitget UEX (Universal Exchange) transformation process and further expands the AI strategy, building on the data analysis and decision support capabilities previously covered by GetAgent, to a more humanized interaction layer. To coincide with the official launch of Gracy AI, Bitget will simultaneously introduce diverse themed conversation scenarios for Valentine's Day, Spring Festival, and more, enriching the AI interaction experience and enhancing practicality and immersive scenarios.Bitget CEO Gracy Chen stated, "A crucial part of work is listening to the real needs of users, delving into details, and helping everyone understand the true dynamics of the market. The team has created Gracy AI with this philosophy in mind, hoping to connect more users with me and the team, and learn and grow in the process of receiving support."
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