On-device LLM Unicorn ModelBest Initiates A-share IPO, Valued Over 20B RMB
智东西 · wechat · 2026-08-12
ModelBest (面壁智能) has officially submitted an IPO tutoring report to the Shanghai CSRC, initiating its A-share listing process with CITIC Securities as the tutor. The company recently surpassed a valuation of 20 billion RMB after raising over 5 billion RMB in the first half of the year.
Incubated by Tsinghua University, ModelBest focuses on on-device LLMs, highlighted by its MiniCPM series. Its open-source models have surpassed 38 million downloads, and its on-device models have been deployed in mass-produced vehicles from Changan and SAIC, with tens of thousands of cars expected to integrate the technology in 2026.
More from Companies & People
- Cognition Seeks New Funding at $40B+ Valuation, Nearing $1B ARR — Scobleizer · 2026-08-12
- Meme: Is Zuck the True Hero of Open Source AI? — twinkletoes_03020 · 2026-08-12
- Meta AI Major Update: Manages Email/Calendars, Creates Slides, and Runs Recurring Tasks — Sheldon_Amy · 2026-08-12
- Investor Debunks Myth That Big Tech Easily Crushes AI Startups — omooretweets · 2026-08-12
- Chinese AI Labs Pay Top Talent at Just 12% of OpenAI's Cost — bookwormengr · 2026-08-12
- Jensen Huang and Fei-Fei Li at Stanford: Strong Support for Open Models and Hardware Infra — DynamicWebPaige · 2026-08-12