Just as investor enthusiasm for AI cools, StepFun secures major funding, following Moonshot and listed peers.

The deal hands Anta control of Puma, while also tying it to the German sportswear brand’s ongoing turnaround.

The Nasdaq-listed company’s shares fell on concerns about commission revenue.

Overseas acquisitions are lifting the sportswear group’s profile, but competition in China is tightening.

The raise underscores consolidation taking shape across China’s AI sector.

The funding will support continued investment in chips designed to improve inference efficiency at scale.

The move aims to stabilize investor sentiment amid a broader correction in China’s collectibles market.

Mainland issuers and policy tailwinds helped HKEX eclipse Nasdaq and NYSE for the first time in years.

The Beijing-based startup is set for a valuation increase as investor interest in Chinese AI companies strengthens.

HKEX saw a rush at year’s end as 13 companies listed on the exchange in the final weeks of 2025.