Xi Jinping Inspects Shanghai’s Model Speedway, StepFun and Infinigence AI Give Key Presentations
AI technology is accelerating through iteration cycles and entering a phase of explosive growth.
On the morning of April 29, Xi Jinping visited Shanghai and toured the "Model Speed Space" large-model innovation ecosystem community in Xuhui District.
"Model Speed Space" is a professional incubation and acceleration platform for AI large models developed by Shanghai, with over 100 enterprises already settled in. Xi Jinping arrived here to learn about Shanghai's AI industry development through video clips, inspect large-model product demonstrations from key incubated enterprises, and listen to briefings on related technology R&D and business operations. He expressed approval for Shanghai's tangible results in actively developing artificial intelligence. He pointed out that AI technology is accelerating its iteration and entering a period of explosive growth. Shanghai should summarize its successful experience in incubating the AI industry through the large-model industrial ecosystem, intensify its exploratory efforts, and strive to take the lead in all aspects of AI development and governance, producing a demonstrative effect.
At the inspection site, Qiming Venture Partners portfolio companies StepFun and Infinigence AI gave key presentations.
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StepFun Showcases Latest Advances in Foundation Model Technology and Applications
StepFun introduced the latest progress in its foundation model technology and applications, demonstrating how multimodal large models integrated with smart terminal scenarios can bring convenience and create value for everyone's daily life.
Image | CCTV Evening News
Since its founding two years ago, StepFun has independently developed five major categories of foundation models forming a comprehensive matrix, making it one of the Chinese companies with the most complete range of base models. Within just the past month, StepFun has launched three new multimodal models in succession. Currently, multimodal models account for 70% of StepFun's Step series foundation model matrix. The defining characteristic of StepFun's models is their leading "multimodal" performance. The company has repeatedly ranked first among "Chinese large models" on authoritative domestic and international evaluation leaderboards. It has also continuously open-sourced multiple multimodal large models for speech, video generation, and image editing, achieving the best performance among contemporaneous open-source models and contributing Chinese strength to the global open-source community.
On the application front, StepFun aims to build an AI "super assistant," particularly one that can be deployed on various consumer terminals. Currently, StepFun has established deep technical partnerships with leading manufacturers across four major domains — automobiles, smartphones, Embodied Artificial Intelligence, and IoT — to jointly create entirely new product experiences for users. For instance, in smart vehicles, StepFun partnered with Geely to unveil its latest intelligent cockpit experience at the Shanghai Auto Show. For smartphones, StepFun has collaborated with leading manufacturers including OPPO to deeply integrate its multimodal large-model capabilities into their latest flagship models.
Daxin Jiang, founder and CEO of StepFun, stated: "Artificial intelligence has brought unprecedented development opportunities to all industries. We deeply recognize the mission on our shoulders and will redouble our efforts to accelerate breakthroughs in core foundation model technologies, actively leverage our advantages in multimodal large models, promote the deep integration of AI technology with industrial innovation, and better contribute to technological innovation and the development of future industries."
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Infinigence AI Introduces Core Software Technology and Smart Terminal Integrated Product Series
Lixue Xia, CEO of Infinigence AI, introduced the company's R&D breakthroughs in core software technology for AI computing infrastructure, as well as its "on-device model + on-device software + on-device hardware" smart terminal integrated product series. Xia also showcased eight chips from four Shanghai-based companies, all of which Infinigence AI has successfully integrated with. Currently, Infinigence AI has achieved efficient utilization of domestic computing power. For example, it partnered with Xuhui District and Model Speed Space to build the nation's first "computing power ecosystem supermarket" — the Model Speed Space Computing Power Ecosystem Platform — while also empowering computing platforms in Zhejiang, Sichuan, Beijing, and other locations.
Image | CCTV Evening News
For ultra-large-scale model training, Infinigence AI's core technology achieves full integration across multiple layers of software, compatible with different brands of domestic hardware, making computing power a standardized foundational resource as accessible as water, electricity, and gas, and enabling AI democratization. For next-generation smart terminal scenarios such as intelligent robots, new energy vehicles, AI-powered phones and computers, Infinigence AI's products can significantly boost computing speed and intelligence levels, allowing everyone to access "fast and affordable" smart terminal devices.
Founded less than two years ago, Infinigence AI has already become one of the most representative emerging technology companies in China's AI industry computing infrastructure sector. Through core technology breakthroughs in hardware key technologies and foundational system software, it has achieved efficient collaborative deployment and operation of domestic large-model algorithms on heterogeneous hardware in both cloud and edge environments, helping to strengthen the resilience and competitiveness of China's computing power industry chain and supply chain. Currently, Infinigence AI serves over 40 heterogeneous computing clusters across more than 20 provinces and municipalities nationwide, with total mixed computing power exceeding 7,000 petaflops — equivalent to 3.5 million computers working simultaneously.
Source | Compiled from Xinhua News Agency, Jiefang Daily, CCTV.com, and portfolio company WeChat official accounts
Past Highlights
Qiming Venture Partners was founded in 2006. The firm currently manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its inception, Qiming Venture Partners has focused on investing in outstanding early and growth-stage companies in the Technology and Consumer (T&C) and Healthcare sectors.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies. More than 210 of these have gone public on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means. Over 80 portfolio companies have become recognized unicorns or super-unicorns.
Many companies in Qiming Venture Partners' portfolio have grown into the most influential players in their respective fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ:BILI, 09626.HK), Zhihu (NYSE:ZH, 02390.HK), Roborock (688169.SH), UBTECH (09880.HK), WeRide (NASDAQ:WRD), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ:ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ:SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), Berry Genomics (000710.SZ), Sinocelltech (688520.SH), Yuanxin Technology, ClinChoice, Belief BioMed, Biren Technology, among others.