Chong Ming Lee, Junior News Reporter at Business Insider's Singapore bureau.

China’s smartest students used to chase tech and finance jobs. Now, they’re choosing manufacturing.

For years, China’s top graduates chased jobs in finance and tech. Now, many are heading into manufacturing and energy instead.

Employment data from Tsinghua University — one of China’s top tertiary institutions — published on its website on Tuesday shows the number of graduates entering the manufacturing and energy sectors rose 19.1% year over year for the class of 2025.

Top employers for this year’s Tsinghua graduates include Huawei, BYD, State Grid Corporation of China, and China National Nuclear Corporation, the university said.

Huawei is a global telecom equipment giant, while BYD is one of the world’s biggest electric-vehicle makers. State Grid runs China’s power grid, and China National Nuclear Corporation leads its nuclear industry.

The share of Tsinghua graduates entering the manufacturing and energy sectors has grown for six consecutive years, according to the university. Tsinghua said last year that the number of Class of 2024 graduates joining those sectors rose 11% year on year.

Often compared with MIT or Stanford, Tsinghua is widely viewed as China’s top engineering university and a key pipeline for talent entering the country’s tech and industrial giants.

The trend is not limited to China’s most elite university. At Huazhong University of Science and Technology, 2025 graduate employment statistics published in January showed about 2,000 graduates entering the information-technology sector and about 1,500 moving into manufacturing, compared with just around 300 entering finance and 240 joining construction.

The share of Chinese graduates entering manufacturing rose from 17.9% in 2020 to 22.5% in 2024, according to South China Morning Post, citing a report by MyCOS Institute, a consultancy focused on China’s education.

China’s advanced manufacturing sector gains prestige

Experts told Business Insider that several factors are driving more graduates toward manufacturing and energy jobs.

China’s industrial sectors, especially semiconductors, electric vehicles, batteries, and renewable energy, have become “highly technology-intensive and now demand top engineering talent,” said Fu Fangjian, associate professor of finance at Singapore Management University.

Many young graduates now see them as “opportunities to work on cutting-edge technologies rather than traditional factory work,” he said, adding that these jobs can offer “very competitive” salaries.

Experts say the nature of manufacturing jobs has evolved as China upgrades its industrial base.

Sectors such as electric vehicles, power equipment, and nuclear energy now require expertise in engineering, data science, and systems integration, said Zhao Litao, a senior research fellow with the East Asian Institute at the National University of Singapore.

“‘Hardware’ and advanced manufacturing are no longer seen as low-skill industries but as high-tech innovation sectors involving robotics, semiconductors, advanced materials, and industrial AI,” Fu said.

As a result, advanced manufacturing is increasingly viewed as a frontier technology sector rather than a blue-collar industry, said Zhao, who researches China’s social policy.

Highly technical engineering or research roles in this sector “carry considerable prestige among engineering students,” he added.

Tech and finance jobs lose their shine

For years, many of China’s top graduates gravitated toward internet platforms and finance, drawn by rapid growth and high pay.

But hiring in the platform economy has slowed, while tighter regulation has added more uncertainty, said Fu.

“At the same time, investment attention has shifted toward HALO sectors —hardware, industrial technology, and energy— redirecting both capital and talent,” he added.

China’s job market has long been challenging for young graduates entering the workforce.

In December, the unemployment rate for people aged 16 to 24 — excluding students — stood at 16.5%, according to data released by the National Bureau of Statistics in January. By comparison, unemployment was 6.9% for those aged 25 to 29 and 3.9% for workers aged 30 to 59.

The Chinese tech sector has been trimming headcount in recent years as companies focus on cutting costs and improving efficiency.

Alibaba’s workforce has shrunk by more than half, from about 250,000 full-time employees in March 2022 to about 124,000 in March 2025, according to a report by Chinese financial news outlet Caixin.

Baidu’s workforce stood at 35,900 at the end of 2024, down 21.1% from its peak in 2021, the report in August added.

Meanwhile, demand in manufacturing remains strong. A government manufacturing talent development plan projected that nearly 30 million skilled manufacturing jobs could go unfilled by 2025.

“China is the world’s largest producer of electric vehicles, batteries, and solar equipment, and these sectors require a large technical workforce,” said Zhao.

Government policy has also helped reshape the job landscape, experts said.

Over the past decade, China has prioritised strategic sectors such as electric vehicles, renewable energy, power equipment, and advanced materials through industrial policies, research programmes, and large-scale investment, said Zhao.

“These sectors have therefore become major employers of engineering graduates,” he added.

Universities, research institutes, and state-supported firms are aligned with these national priorities, which encourages more talented graduates to enter these fields, Fu said.




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Chong Ming Lee, Junior News Reporter at Business Insider's Singapore bureau.

I’ve been a product manager at one of China’s biggest tech firms. Here’s how Chinese AI products are built differently.

This as-told-to essay is based on a conversation with Yilin Zhang, an AI product manager at AI startup Kuse who worked at Meituan for more than three years. It has been edited for length and clarity. Business Insider has verified his employment and academic history.

I graduated from Tsinghua University with a master’s degree in computer science in 2021 and then joined Meituan — one of China’s biggest tech firms — as a product manager.

At Meituan, China’s platform for local services, especially known for food delivery, I worked on two AI projects. One was a consumer-facing AI assistant that helps users complete various tasks, including ordering food. The other was a merchant-facing AI agent designed to help businesses manage their daily operations, including handling reservations, managing orders, and supporting routine operational tasks.

The main difference between how products are built in China and in the US comes down to the market.

Why Chinese tech companies are so cost-efficient

Across most large Chinese tech companies, AI product development accelerated more aggressively around 2025.

The AI initiatives I worked on at Meituan started around April or May of that year. It coincided with the surge of interest around DeepSeek, when attention around AI agents took off.

Large companies began racing to build AI projects, and almost every business unit launched its AI initiative.

For a long time, especially before 2021 or 2022, Chinese tech companies were primarily focused on domestic competition rather than overseas expansion. Because competition in China is intense, tech companies were forced to become extremely efficient. Their execution methods have been sharpened to an almost frightening degree.

Constraints have also pushed Chinese AI companies to pursue different paths, with a strong focus on open-source models and cost efficiency. These limitations forced exploration in new directions, and those paths have proven valuable in their own way.

DeepSeek is a good example. Because of international restrictions, it couldn’t access large numbers of GPUs and was forced to innovate around efficiency instead.

Why Chinese AI products differ from the West

Chinese and overseas markets are fundamentally different, leading to distinct user bases, expectations, and product designs.

Chinese users have a much lower willingness to pay for software; hence, many mass-market AI products, such as Doubao, tend to be free. The core objective is often to scale active usage.

Many capabilities are packaged into a single prompt you can ask, essentially a chatbox interface with a low barrier to entry.

International AI products target users doing high-value tasks. They are more often designed for desktops than for mobile devices, with interfaces better suited to work contexts. These products explore how AI and humans can collaborate and intersect across different work scenarios, helping users complete tasks more effectively and efficiently.

In China, that user group is relatively small. That makes it harder for its mainstream AI products to move beyond chat-based forms into more advanced products.

China’s internet success over the past decade has also largely come from consumer-facing apps. That environment forces product managers to obsess over user feedback and relentlessly polish even the smallest features.

Teams may spend enormous effort refining a tiny feature just to win over a small group of users. In markets with less competition, that level of detail isn’t always necessary.

The AI startup scene is growing in China

After three to four years at Meituan, I felt I had learned most of what I could from that environment. I left to join the AI startup Kuse in October.

AI is evolving extremely fast. In large companies, iteration speed can be slower. Many of my friends across different Big Tech companies share this same frustration. Smaller, more agile companies can adapt faster.

In the past, top graduates had basically two paths: becoming a civil servant or joining a Big Tech company.

That’s changing. Especially over the past year, many AI startups have emerged, and more young people are choosing entrepreneurship. AI has created a new path outside Big Tech.

By 2025, not being involved in AI at all will feel like staying in the PC internet era of 2010 instead of joining the mobile internet wave.

Do you have a story to share about working in a Chinese tech company? Contact this reporter at cmlee@insider.com.




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China’s tech giants are opening their doors to OpenClaw. The Chinese internet is lapping it up.

The viral AI agent OpenClaw — formerly known as Clawdbot, then Moltbot — has found an audience in China.

Since last week, Chinese tech companies including Tencent, Alibaba, and Volcano Engine, a cloud service platform under ByteDance, have begun integrating OpenClaw into their platforms, making it easier for Chinese users to run the agent. That includes connecting the agent to workplace tools such as Alibaba’s collaboration platform, DingTalk, and Tencent Holdings’ WeCom, the work version of China’s super app, WeChat.

OpenClaw began circulating widely in tech circles last month, attracting high-profile fans including Y Combinator CEO Garry Tan and multiple partners at Andreessen Horowitz.

The agent has also taken off among Chinese users, with demos, tutorials, and use cases spreading rapidly across local social platforms.

OpenClaw is designed to run around the clock and plug into a wide range of consumer apps, allowing users to automate tasks such as managing schedules, overseeing vibe-coding sessions, or even building AI employees.

In a post on Tencent Cloud’s developer platform, the company said last Thursday that its servers have rolled out a preconfigured OpenClaw application template, enabling users to deploy the AI assistant in the cloud with minimal setup.

Alibaba Cloud has also rolled out support for OpenClaw on its platforms and said the agent can connect to a range of models from Alibaba’s Qwen series.

Volcano Engine, ByteDance’s cloud services arm, outlined how developers can deploy Moltbot in its environment in an article published on Monday, while also flagging key safety considerations.

“Because the tool has extensive data, account, and network access permissions, please deploy it in a dedicated environment, avoid handling sensitive information, and be sure to review permissions regularly and set access restrictions for ECS and API keys,” the article said, referring to cloud servers and access credentials.

For OpenClaw to run as a digital assistant across apps, it requires access to users’ files, login details, browser activity, and other data.

Cybersecurity specialists told Business Insider in a report published on Wednesday that agents like OpenClaw can be vulnerable to “prompt injections,” a tactic that uses hidden instructions to trick AI into performing actions such as leaking data or publishing content on users’ behalf.

Despite mounting privacy and security concerns, enthusiasm for the agent among Chinese users shows little sign of slowing.

OpenClaw’s popularity on Chinese social media

Posts and demos featuring OpenClaw have surged on the Chinese social media platform RedNote.

One RedNote user who goes by “Brother C” posted a video tutorial last Tuesday, walking viewers through how to use OpenClaw. “See how the 24/7 proactive AI assistant is revolutionizing workflows,” he wrote. The post drew more than 4,000 likes and was saved over 6,000 times.

Another user posting under the nickname “Teacher Du” shared his own explainer on Monday, describing how OpenClaw could be deployed in everyday workflows. His post was saved more than 2,000 times and received over 1,000 likes.

“My experience was truly mind-blowing,” he wrote, adding that the agent could handle “all sorts of tasks” and that the “concept of a true AI employee is getting closer.”

Like their counterparts in the US, Chinese users are buying Mac Minis to run the agent. A RedNote user named Wu Bin said he had ordered a secondhand Mac Mini to serve as his “super assistant.”

“It’s incredibly convenient, I can control it remotely to organize files and handle all sorts of tasks,” he wrote.

Not everyone is convinced. A user who goes by “Programmer Yago” warned in a RedNote post on Sunday that using the agent could leave users’ data “running naked all over the internet.”

OpenClaw did not respond to a request for comment from Business Insider.




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China’s military has a leadership problem, and it’s serious

China’s drive to modernize its military to rival the US armed forces is running parallel with an aggressive purge of its senior leaders.

The People’s Liberation Army has been repeatedly shaken by a massive anti-corruption campaign led by Chinese leader Xi Jinping. Now, the military leadership is under renewed scrutiny after one of China’s most senior generals was placed under investigation.

The latest disruptions within the PLA, the world’s largest military and one of its most powerful, raise questions about who is leading the force and how the shake-ups are affecting the military as an organization and impacting readiness.

This past weekend, China’s defense ministry announced investigations into Gen. Zhang Youxia, vice chairman of the Central Military Commission, and Liu Zhenli, the chief of staff of the commission’s joint staff department. Zhang was widely believed to be one of Xi’s trusted military advisors.

An editorial published in official PLA media said the two had “seriously betrayed the trust and expectations” of both the Communist Party and the CMC and “fostered political and corruption problems that undermined the party’s absolute leadership over the military and threatened the party’s ruling foundation.”

Analysts Business Insider spoke with said the accusations suggested more than just financial corruption, which has been the case for others. Rather, the language indicates Zhang and Liu challenged Xi’s authority, whether through disagreements on modernization goals, failures to meet expectations, or power and influence struggles within the ranks. The reasons may never be known, as China’s “black box” opacity increasingly blurs realities inside its government.

A report from the Wall Street Journal raised the possibility Zhang leaked nuclear weapons data to the US. Business Inside is unable to independently verify the information.


Chinese leader Xi Jinping, dressed in military formal wear, speaks in front of twin rostrum mikes.

Xi and other official are now the only two remaining members of the Chinese Military Commission.

Xinhua News Agency/Xinhua News Agency via Getty Images



Of the seven officials appointed to the Central Military Commission in 2022, only two — Xi himself and Zhang Shengmin, the commission’s anti-graft officer — remain in power. The rest are either under investigation or have been expelled.

Two defense ministers have been ousted, and last October, nine top PLA commanders were purged. The exact number of senior military leaders affected is unknown, but there are indications the purge has deeply impacted the senior officer corps.

Zhang is the highest-ranking official affected by Xi’s crackdown on the military. And across the lower ranks of the PLA, dozens of other officers have been removed from their positions.

“This is kind of the ultimate crescendo of this anti-corruption campaign in the military,” Jonathan Czin, an expert at the Brookings Institute who previously served as a top China analyst for the Central Intelligence Agency and director for China at the United States National Security Council, told Business Insider.

“It sends a very clear sign throughout the system that nobody is safe regardless of what kind of relationship you had or have with Xi Jinping,” he said.

More investigations may follow those of Zhang and Liu. Officials with ties to the two men could come under suspicion as well, analysts said. Other senior people have been notably absent from important meetings in recent months, suggesting more shakeups.

That leaves Xi with a difficult next step: deciding who can credibly fill the vacancies.

Because so many senior officers have been removed or face investigations, “the pool of candidates for refilling top positions has been winnowed,” Brian Hart, the deputy director and fellow at the Center for Strategic and International Studies’ China Power Project, told Business Insider. “Xi could continue to use the existing command structure of the CMC and fill it with new people loyal to him,” he added. “It is also possible Xi could try to start over with a bit of a blank slate by more fundamentally remaking the PLA’s leadership structure.”


A man stands in front of a neon billboard showing a news program at night about China's military surrounding Taiwan.

Experts assess the immediate consequences of the most recent corruption investigation will impact combat readiness.

GREG BAKER/AFP via Getty Images



Fewer experienced commanders could slow coordination across China’s military — a serious challenge for complex operations like a blockade or invasion of Taiwan.

Some PLA watchers argue Xi appears willing to accept those short-term costs if the result is a force that is more politically loyal and disciplined over time. The PLA Daily editorial framed the campaign as a net positive, arguing that “the more the People’s Army fights corruption, the stronger, purer, and more combat-capable it becomes.”

A senior Pentagon official previously speculated that the extensive corruption in China’s military was hindering its modernization.

Amid disruptions in the force, China may seek to send a signal that shake-ups aren’t affecting military readiness.

“You could actually see an uptick in the number of major exercises around Taiwan, but internally it could mask significant upheaval and disarray within the PLA,” Lyle Morris, a senior fellow for foreign policy and national security at the Asia Society Policy Institute’s Center for China Analysis, told Business Insider.

China staged large joint exercises around Taiwan following earlier purge waves. Such actions could project readiness despite leadership turmoil.

The internal upheaval is likely having an effect, though, China watchers said. “It is hard to deny that this creates challenges for the PLA in the short term,” Hart said. “Any leader deciding on using force would want senior leaders and commanders in place who are loyal, experienced, and effective in their roles. The immense turnover within the PLA’s highest ranks complicates that.”




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China’s AI push is about spreading economic gains, not enriching tech giants, a finance CEO says

Open source — that might be the clearest signal of how China wants artificial intelligence to reshape its economy.

Hisham Alrayes, the group CEO of Bahrain-based GFH Financial Group, said China is prioritizing open models and broad deployment to spread AI’s gains across the economy, instead of funneling them to a few tech giants.

Speaking at a Davos panel on China’s “AI+ Economy” strategy on Wednesday, Alrayes said the country’s approach reflects a fundamentally different economic philosophy.

“You look at the open structure of the China AI philosophy — then you have the non-open structure,” Alrayes said. “That signals that the benefit they want to see is to trickle down into the economy, into the companies.”

Open source as economic strategy

China’s most prominent AI breakout, DeepSeek, reflects that philosophy.

It mostly uses open-source models that have drawn global attention, in contrast to many large US language models that remain closed and proprietary, reaping the benefits of tightly controlled commercial ecosystems.

Meta’s former chief AI scientist Yann LeCun, has said that a key reason behind DeepSeek’s success is its open-source model, which, he said, can outperform proprietary models in terms of efficiency and innovation by building on shared research.

Meanwhile, former Google CEO Eric Schmidt has said that China’s open-source AI models could gain an edge globally because they’re free, making them more attractive than costly proprietary US systems for governments and countries that can’t afford closed models.

Similarly, Alrayes said, China — in pursuing the open model — is aiming for affordability and scale.

“It’s not the benefit of that company, of that product, the return of that individual. It’s not an individual — it’s an economy,” Alrayes said.

That philosophy is reflected in China’s national “AI Plus” action plan, which prioritizes diffusion, said fellow panelist Gong Ke, executive director of the Chinese Institute for New Generation AI Development Strategies at Nankai University.

The policy, he said, focuses on embedding AI across manufacturing, healthcare, finance, education, and other sectors, rather than on breakthroughs such as artificial general intelligence.

He added that the plan sets explicit adoption targets, with AI agents and intelligent terminals expected to reach 70% penetration by 2027 and 90% by 2030.

AI as infrastructure, not a profit engine

Alrayes said China’s open-source tilt ultimately reflects a broader goal: making AI an economic utility rather than a profit center for a small group of companies.

“China is looking to create value throughout the economy, very clear, with very specific objectives across the economy,” he said. “Not just as a benefit to those companies. This is the difference in the philosophy.”




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New Pentagon maps show the reach of China’s expanding missile force

China’s missile arsenal is expanding rapidly, and new maps and data from the Pentagon show its size and reach.

China’s missile branch, known as the People’s Liberation Army Rocket Force, has seen substantial growth in recent years as Beijing builds new platforms for conventional and nuclear strike. Its capabilities threaten US, allied, and partner forces.

The latest Pentagon report on China’s military offers estimates for the number of launchers and missiles in the Chinese arsenal, including the country’s intercontinental ballistic missiles, key parts of its nuclear deterrent.

Chinese ICBMs include missiles like the DF-5 and DF-41. The Pentagon estimates China has 550 ICBM launchers and 400 missiles with estimated ranges beyond 5,500 km, the threshold for classification as an ICBM.


A chart showing the estimated ranges, missile numbers, and launcher numbers based on each system and class of China's missiles.

Estimated numbers of missiles and launchers for Chinese missiles, specifically ground-launched cruise missiles (GLCMs), short-range ballistic missiles (SRBMs), medium-range ballistic missiles (MRBMs), intermediate-range ballistic missiles (IRBMs), and ICBMs.

US Department of Defense



For China’s medium-range ballistic missiles, such as China’s DF-21s or hypersonic DF-17, the Pentagon assesses that China has 300 launchers for 1,300 missiles with ranges between 1,000 and 3,000 km. The report also documented increases in the number of launchers and missiles for some notable systems. China’s intermediate-range ballistic missiles, like the DF-26 missile, jumped from 250 launchers in last year’s report to 300 this year, and the number of IRBMs total went from 500 to 550.

These figures illustrate how heavily Beijing has invested in a powerful, diverse missile arsenal. The Pentagon highlighted in its report that the Rocket Force could play an important role in a Chinese invasion of Taiwan or other regional conflict.

According to the latest report, China’s rocket force “is prepared to conduct missile attacks against high-value targets, including Taiwan’s C2 [command and control] facilities, air bases, and radar sites” as well as deter or delay the US or its allies and partners from coming to Taiwan’s aid.

The Pentagon said that the Rocket Force has continued to rehearse strikes in recent military exercises, including 2024 drills simulating an invasion or blockade of Taiwan.


A map showing missile ranges in the Taiwan Strait.

The estimated ranges of Chinese missiles relevant to a Taiwan fight.

US Department of Defense



One map in the report shows the estimated reach of Chinese missiles that could be particularly relevant in a fight over Taiwan, weapons such as ship- and shore-launched surface-to-air missiles for knocking out hostile aircraft, as well as anti-ship cruise missiles fired from naval platforms like Chinese destroyers and land-based close- and short-range ballistic missiles.

Another Pentagon map shows the estimated reach of China’s conventional strike missiles, including the DF-17 and DF-21 MRBMs, the DF-26 IRBM, and the newly fielded DF-27 ICBM, which, like the DF-26 and some DF-21s, has an anti-ship role in addition to land attack.

Many of these systems can reach across the first island chain, which includes Japan, Taiwan, and the Philippines, while longer-range missiles extend toward the second island chain and beyond.

The DF-26 is concerning for US planners. The weapon, nicknamed the “Guam Express,” can be armed with either conventional or nuclear warheads and reach US installations on Guam. It can target US aircraft carriers and other surface ships as well.

Bombers, like China’s H-6, carrying CJ-20 cruise missiles could threaten parts of Alaska. And then the ICBMs can range significantly further. The DF-27 can, for instance, range parts of the continental United States.


A map showing estimated ranges of Chinese missiles outside of the mainland and towards other regions.

The estimated ranges of Chinese missiles with regional reach.

US Department of Defense



The Department of Defense report also looks at China’s nuclear strike options, such as land-based ICBMs and submarine-launched ballistic missiles.

China test-launched an ICBM, specifically a DF-31B missile, in September 2024, firing it from a position on Hainan Island into the Pacific. The test was the first beyond the country’s borders since the 1980s and allowed China to verify ICBM performance. The Department of Defense suspects weapons tests like these may become more regular.

This year, at a military parade in Beijing, China unveiled new, previously unseen ICBMs, shocking China watchers. Those weapons, including the new DF-61 and DF-31BJ, are not included in the Pentagon’s assessments.

China also continues to bolster its nuclear warhead count, estimated at over 600 warheads. Although 2024 saw a slower rate of production than previous years, the Pentagon still assesses that the Chinese military is on its way to 1,000 warheads by 2030, only a fraction of the US and Russian stockpiles.


A map showing the estimated ranges of China's missiles from Asia over the North Pole.

The estimated ranges of Chinese nuclear missiles.

US Department of Defense



A Pentagon map estimating the ranges of Chinese missiles available for nuclear strike indicates that three — the DF-5, DF-41, and DF-31 — all have the continental US well within range, while the submarine-launched JL-3 missile can hit most of it from waters near China. On a submarine positioned farther out, more targets could be within striking distance.

Despite these continued advancements, questions remain on the differences in quality and capabilities of Chinese weapons and training compared to the US. The Pentagon also believes China is still navigating the impacts of a vast anti-corruption campaign in the military that has particularly targeted PLARF officials.

The campaign could be detrimental if driven by political agendas, or it could deliver long-term improvements if it addresses actual problems within the force. At this point, it’s unclear how the changes will affect it.




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China’s economic slump isn’t stopping a billionaire boom in AI chips

China’s deepening property crisis has crushed household wealth and dented the fortunes of some of its biggest tycoons — but a new class of AI-era billionaires is rising fast.

This year, the standout winners are coming from China’s red-hot AI chip sector.

On Wednesday, shares of MetaX Integrated Circuits Shanghai — a GPU startup founded by former AMD executives — skyrocketed as much as 755% on their first day of trading on the Shanghai Stock Exchange’s tech-focused STAR Market, before closing up about 700%.

The surge catapulted its chairman and cofounder, Chen Weiliang, into one of China’s fastest-rising tech moguls. Chen’s stake in MetaX is worth about $6.5 billion, according to the Bloomberg Billionaires Index.

Other early insiders also saw eye-popping paper gains.

MetaX’s other two cofounders and co-chief technology officers, Peng Li and Yang Jian, hold stakes worth hundreds of millions of dollars after the blockbuster debut, according to Bloomberg’s calculations.

China’s AI rush

Chen’s rise follows that of another GPU entrepreneur, Zhang Jianzhong, the founder and CEO of Moore Threads Technology.

Earlier this month, Zhang’s net worth jumped to $4.3 billion after his company’s successful IPO, continuing a wave of investor enthusiasm for homegrown semiconductor players.

The richest figure in China’s AI chip scene is Chen Tianshi, a cofounder and CEO of Cambricon Technologies — a company retail traders have dubbed “China’s Nvidia.”

Cambricon’s Chen is now worth $22.5 billion, making him the country’s 16th-richest individual on Bloomberg’s list. He is the 115th richest person in the world.

These new fortunes reflect a sharp shift in investor sentiment.

Chinese AI and semiconductor stocks have been on a tear since the breakout of the China-made DeepSeek-R1 AI model released in January. The model helped spark a rally in local tech names and pushed the Hang Seng Tech Index up more than 20% so far this year.

Washington’s tightening export controls on advanced Nvidia chips also contributed to the boom.

Such restrictions on high-end AI processors have choked China’s access to cutting-edge US hardware and pushed Beijing to lean harder on domestic suppliers.

Still, China’s new AI billionaires remain far from the top of the country’s wealth rankings. The upper tier is still dominated by long-established tycoons.

In the top spot is Zhong Shanshan, the low-key bottled-water magnate behind Nongfu Spring, with a fortune of $68.1 billion, per Bloomberg.

Pony Ma, a cofounder and CEO of Tencent, ranks second with $66.5 billion — a fortune up 38% this year, on the heels of Tencent’s AI-induced rally — while ByteDance cofounder Zhang Yiming comes in third with $65.2 billion.




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