Vast, a 3D-modeling startup founded by a 29-year-old gamer, raised nearly $200 million to become the latest Chinese AI outfit to achieve a valuation of $1 billion. Ince Capital and a venture fund backed by China Life Insurance Co. led the financing, the Beijing-based startup said in a statement. Other investors in the round included Genesis Capital and existing backers Eminence Ventures and Primav...
Vast, a 3D-modeling startup founded by a 29-year-old gamer, raised nearly $200 million to become the latest Chinese AI outfit to achieve a valuation of $1 billion. Ince Capital and a venture fund backed by China Life Insurance Co. led the financing, the Beijing-based startup said in a statement. Other investors in the round included Genesis Capital and existing backers Eminence Ventures and Primavera Venture Partners . While the company declined to disclose its exact valuation, it said the figure now exceeds $1 billion. The firm — also backed by Alibaba Group Holding Ltd. and Baidu Inc. — develops Tripo Studio , which helps developers and creative professionals generate 3D models from text and image prompts. It charges a monthly subscription starting at $20, plus fees based on token consumption. The bulk of its 20 million users hail from the US, followed by Europe, Japan and South Korea, founder Simon Song told Bloomberg News. He says Vast could turn a profit within two years. Vast competes with Tencent Holdings Ltd. ’s Hunyuan 3D and Silicon Valley startup Meshy in the development of production-grade 3D models for video games, filmmaking, 3D printing and industrial applications. These platforms aim to replace traditional software with generative workflows similar to AI chatbots and video generators. Yet commercially viable breakthroughs remain rare in a $200 billion gaming industry — potentially its most lucrative market — that remains largely skeptical of the technology. “When people discuss foundation models, the conversation is almost always about language models,” Song said. “But in my view, 3D models are the most foundational because they are an uncompressed reflection of the real world.” Read More: Alibaba Moves Onto Tencent’s Turf With AI Model for 3D Video Vast said its latest P-series model generates game-ready assets with low-polygon frameworks – bypassing an AI limitation that usually requires hours of manual editing before a model can be used. The compa...
(Bloomberg) -- Vast, a 3D-modeling startup founded by a 29-year-old gamer, raised nearly $200 million to become the latest Chinese AI outfit to achieve a valuation of $1 billion.Most Read from BloombergUS Says Deals With Iran for Safe Hormuz Transit Are ProhibitedStrait of Hormuz Ship Transits Are Rising Thanks to US HelpAmericans Injured in Iranian Missile Strike on Kuwaiti Air BaseAmericans Hurt...
(Bloomberg) -- Vast, a 3D-modeling startup founded by a 29-year-old gamer, raised nearly $200 million to become the latest Chinese AI outfit to achieve a valuation of $1 billion.Most Read from BloombergUS Says Deals With Iran for Safe Hormuz Transit Are ProhibitedStrait of Hormuz Ship Transits Are Rising Thanks to US HelpAmericans Injured in Iranian Missile Strike on Kuwaiti Air BaseAmericans Hurt in Kuwait as Trump Sends Mixed Signals on WarQatar Says Temporary Hormuz Fee to Clear Mines Is Nego
Micron Technology (MU) is having the kind of rally that can shift the perception of an entire industry on Wall Street. The memory-chip maker briefly topped the $1 trillion market value threshold for the first time on May 26, on the back of soaring demand for chips that power artificial intelligence ...
Micron Technology (MU) is having the kind of rally that can shift the perception of an entire industry on Wall Street. The memory-chip maker briefly topped the $1 trillion market value threshold for the first time on May 26, on the back of soaring demand for chips that power artificial intelligence ...
(RTTNews) - The China stock market headed south again on Friday, one day after ending the two-day slide in which it had dropped almost 60 points or 1.3 percent. The Shanghai Composite Index now sit just beneath the 4,070-point plateau although it's expected to bounce higher again
(RTTNews) - The China stock market headed south again on Friday, one day after ending the two-day slide in which it had dropped almost 60 points or 1.3 percent. The Shanghai Composite Index now sit just beneath the 4,070-point plateau although it's expected to bounce higher again