GoKawiil
Tech News
Cybercriminals employed a publicly accessible Chinese AI technology to launch attacks against financial institutions in South Korea. These incidents underscore the growing threat posed by AI-enabled hacking methods.
In Ulanqab, a farming region in Inner Mongolia known as China's 'potato capital', large-scale data centre construction is underway alongside agricultural land. Workers described the project as proceeding in multiple phases, with one phase completed roughly every year and more planned. These facilities are intended to provide the computing power behind China's AI ambitions.
A screenshot circulated online showing the US Federal Register's search interface offering Alibaba Cloud's Qwen3:0.6B language model as a search option alongside the default semantic search. About a day after the screenshot spread, the Qwen options disappeared from the site, though an archived snapshot from September 16 confirms they existed.
Cohere CEO Aidan Gomez said Chinese AI labs have built genuine capabilities that surpass simple copying of American models, even as U.S. companies and officials frame Chinese progress largely as 'distillation' or theft. He noted that some Chinese models now beat top American systems on certain benchmarks, which he argues wouldn't be possible through distillation alone since that technique can only narrow a gap, not exceed it.
Chinese AI startup Moonshot announced Thursday that its Kimi models now integrate directly with financial data providers including S&P Global Market Intelligence, Crunchbase, Wind, Tianyancha, SEC EDGAR filings, the IMF, World Bank and FRED. The company said clients such as CICC and venture firm Hong Shan (formerly Sequoia China) are already using Kimi's new financial-services tools, which are offered through tiered subscriptions ranging from 49 to 699 yuan per month.
Rhodium Group estimates that all major Chinese AI companies combined—including DeepSeek, MiniMax, Moonshot, Z.ai, ByteDance and Alibaba—generate roughly one-tenth the annualized revenue of OpenAI and Anthropic alone. DeepSeek's estimated annual recurring revenue is just $500 million, while OpenAI's reaches $40 billion and Anthropic's $65 billion.
Z.ai's shares fell more than 10% on Monday after the Beijing-based AI firm unveiled plans to raise roughly $5 billion, combining a discounted share placement worth about $2 billion with a $3 billion zero-coupon convertible bond offering due 2027. This is the company's second major capital raise in two months, following a $4 billion placement in July. Rival Chinese AI firm MiniMax also saw its shares slide about 5% the same day.
A Morning Risk Report roundup describes efforts by Chinese AI firms to reproduce American AI models, alongside items on crypto scam victims battling the U.S. government to recover lost funds and ABC host Jimmy Kimmel criticizing the FCC. The compilation touches on cloning practices in AI, consumer financial recovery disputes, and regulatory friction in broadcasting.
U.S. security agencies have publicly accused six Chinese artificial intelligence companies of systematically using American AI models to train their own systems through a technique known as distillation. The practice allows a smaller model to learn from the outputs of a larger, more advanced one, effectively transferring capabilities without the original research investment.
Nvidia announced hardware optimizations for popular Chinese open-source AI models, including DeepSeek's V4 Flash and Alibaba's Qwen 3.8, as part of a broader push to support open-weight systems. Alongside the announcement, an SEC filing tied to its quarterly earnings warned that potential White House restrictions on Chinese-origin AI could hurt its business by limiting its ability to support apps built on those models.