Chinese Tech Daily — 2026-05-16#

Top Story#

Anthropic is reportedly finalizing a $30 billion funding round that will skyrocket its valuation to $900 billion, officially surpassing OpenAI. This marks a massive shift in the generative AI arms race, with major heavyweights like Sequoia Capital and Altimeter Capital co-leading the investment to dethrone the current market leader.

Engineering & Dev#

At the upcoming AICon in Shanghai, Alibaba will present its open-source LLM framework, Mooncake, which optimizes KVCache by treating it as the “physical working memory” for multi-agent systems. By decoupling computation and storage, it enables zero-copy tensor sharing across nodes. In organizational shifts, Baidu has established the Baidu Model Committee (BMC) to centrally manage its large model business, overseeing everything from technical planning to application deployment.