Meituan

• Chinese food delivery giant Meituan has unveiled LongCat-2.0, a new open-source large language model featuring 1.6 trillion parameters. • The company claims this is the first model of its scale to complete both full training and inference using exclusively domestic Chinese chip clusters. • This development is significant as it demonstrates China's ability to build massive AI models despite international restrictions on high-end semiconductors.

• Meituan unveiled LongCat-2.0, a new large language model that the company claims performs comparably to Google's Gemini 3.1 Pro released in February. • The model was trained using domestic Chinese chips, marking a significant step in the country's effort to reduce reliance on U.S. hardware. • This development is a direct response to Washington's security-based restrictions on advanced chip exports to China.

• Moonshot AI, a leading Chinese chatbot maker focused on commercial AI applications, secured $20 billion in its Series E funding round led by Meituan. • The massive investment, one of the largest in AI history, will accelerate development of advanced AI models and expand commercial deployments across Asia. • This funding underscores China's aggressive push in AI amid global competition, positioning Moonshot to challenge U.S. giants like OpenAI.