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The Science and Technology Innovation Board Daily reporter learned from multiple sources that the venture capital firm Lisi Capital, which participated in the previous round of financing for DeepSeek, continues to secure an investment share in DeepSeek's new round of financing, with the participating entity being its subsidiary Tianjin Lisi Xing Shen Equity Investment Partnership (Limited Partnership) (Xing Shen Fund). As multiple listed companies disclose their funding progress and business information updates, the fund size has increased from the previously disclosed 2.64 billion yuan to 6.02 billion yuan, and was ultimately confirmed at 7.52 billion yuan, with the funds already paid in.Public announcements show that Zhihu announced on September 6 that it plans to invest 1.5 billion yuan through its wholly-owned subsidiary to participate in the Xing Shen Fund, which completed registration with the Asset Management Association of China on September 15; Tongchen Beijian disclosed in late September that it participated with its own funds of 50 million yuan when the fund size was 2.64 billion yuan. On October 9, Zhongwang Fabric announced its intention to invest 50 million yuan, at which time the subscribed amount had increased to 6.02 billion yuan. On October 21, Tongchen Beijian disclosed that it received notice that the fundraising scale had increased from 2.64 billion yuan to 7.52 billion yuan, the fundraising has been completed and all funds have been paid in; Perfect World, Te Bao Biotechnology, and others subsequently confirmed this scale. According to Qichacha, the Xing Shen Fund has a total of 41 partners, including the executive partner Tianjin Lisi Ming Tang and 40 limited partners, with a total subscribed capital of 7.52 billion yuan.The reporter compiled that 13 listed companies and their related funding entities have a total subscribed amount of 3.495 billion yuan, accounting for approximately 46.48% of the total fund size. Zhejiang Innovation Deep Intelligent Venture Capital Partnership has subscribed 1.4 billion yuan, making it the second-largest contributor; along with the two funds of Zhejiang Province, Ke Chuang Zhan Xin and Ke Chuang Wei Lai, each subscribing 50 million yuan, the three Zhejiang state-owned entities have a total subscription of 1.5 billion yuan, while Wuxi Chanfang Guosheng Innovation Development Equity Investment Partnership has subscribed 80 million yuan. A person familiar with the situation stated that Lisi is one of the market-oriented institutions that obtained a larger share, while other market-oriented institutions typically have quotas ranging from 3 billion yuan to 4 billion yuan. Zhihu previously announced that the Xing Shen Fund adopts a blind pool structure, and this person indicated that the actual allocation may still be highly concentrated in DeepSeek. The reporter had previously sought confirmation from Lisi Capital on whether the Xing Shen Fund participated in this round of financing, but had not received a clear response by the time of publication.

According to Yahoo Finance, Zhihu announced that its wholly-owned subsidiary has entered into a subscription agreement with general partners and fund managers to subscribe for 1.5 billion RMB of limited partnership interests using its own funds.Following the completion of the subscription, Zhihu expects to hold no more than 30% of the fund's interests. The fund has a duration of 7 years (extendable for up to two additional years), with an investment period of 4 years, and will primarily invest in early to mid-stage non-listed companies in the fields of artificial intelligence and cutting-edge technology in mainland China, covering areas such as foundational models, AI infrastructure, robotics, and AI applications.

According to Gate market data, the Hang Seng Tech Index rose over 1% during the session, after previously falling 0.7%; the Hang Seng Index is about to turn positive during the session, after previously falling 1%. Zhizhu rose over 22%, MiniMax rose nearly 13%, Lenovo Group rose over 8%, and Hua Hong Semiconductor and Alibaba both rose over 5%.

According to TNW, the Cyberspace Administration of China has released a draft of regulations for combating cyberbullying and is seeking public feedback. The draft requires platforms to establish classifiers for detecting and categorizing online violence content, provide users with a "one-click protection" feature, and implement blacklist management and regular reporting mechanisms for violating accounts.Notably, the draft explicitly includes AI-generated deepfake images and synthetic harassment texts within the scope of regulation. The Q&A platform Zhihu has already responded by restricting the use of anonymous accounts.

The artificial intelligence industry is transitioning from generative AI and model inference acceleration to the era of intelligent agents, entering a new phase of rapid development. Landscape Fund officially announced a multi-million dollar strategic investment in Zhihui Cloud World, firmly optimistic about the continuous growth of Token consumption in the intelligent agent scenarios in mainland China, with a focus on laying out the intelligent agent computing power scheduling and cloud service track.Zhihui Cloud World focuses on the artificial intelligence infrastructure platform, cloud computing services, and computing power scheduling technology, providing stable and efficient computing power support and technical solutions for large model training, inference, and the commercialization of AI intelligent agents. With the collaborative efforts of multiple intelligent agents and the large-scale implementation of enterprise-level intelligent agents, the demand for Token invocation and computing power is experiencing explosive growth, indicating clear growth potential for the company's business.Landscape Fund stated that this round of financing will help Zhihui Cloud World solidify its technological foundation, expand computing power scale, optimize intelligent agent service efficiency, further seize the dividends of the industrialization of intelligent agents, and promote the upgrade of China's AI intelligent agent infrastructure.

ChainCatcher message, according to Jin10 reports, during the 2024 World Internet Conference Wuzhen Summit, Zhihu founder, chairman, and CEO Zhou Yuan discussed the changes brought by AI search, stating: "I really believe that AI search is still in a relatively early stage overall, both domestically and globally. The frequency of use and the scenarios it can cover are still in a relatively early stage. Even including this term, I do not think it fully and clearly depicts what the product can do."