China's Large-Model Landscape

The “six tigers” frame stopped working this year. DeepSeek broke its own rule and raised outside money on the way to an IPO, Moonshot is now valued at nearly four times the listed MiniMax, two of the tigers walked away from frontier training altogether — and Xiaomi and ModelBest arrived from outside the list. Click any node to see its own network.

Snapshot: 28 August 2026 · see earlier versions