Tech & Top Startups)

中文名 / Chinese Name 英文名 / English Name 开发方 / Developer

Qwen (Tongyi Qianwen)

ERNIE (Enhanced Representation through kNowledge IntEgration) 百度 (Baidu)

Hunyuan 腾讯 (Tencent)

Pangu 华为 (Huawei)

Spark

360 Brain 360集团 (360 Group)

SenseNova / SenseChat

ChatGLM (GLM series) 智谱AI (Zhipu AI) Kimi Kimi / Moonshot 月之暗面 (Moonshot AI)

Baichuan 百川智能 (Baichuan Intelligent) Yi Yi

MiniMax

DeepSeek DeepSeek

Skywork 昆仑万维 (Kunlun Tech)

InternLM

AI Lab)

Wudao / Aquila

MiniCPM / ModelBest

XVERSE XVERSE

Zidong Taichu

Page 1 / 5 Tier 2 —— 手机厂商/垂直大模型 / Smartphone Manufacturers & Vertical LLMs

中文名 / Chinese Name 英文名 / English Name 开发方 / Developer

MiLM 小米 (Xiaomi) BlueLM BlueLM VIVO AndesGPT AndesGPT OPPO

MagicLM 荣耀 (Honor) Tier 3 —— 运营商/央企/学术 / Telecom Operators, State-Owned Enterprises & Academia

中文名 / Chinese Name 英文名 / English Name 开发方 / Developer

Xingchen / TeleChat 中国电信 (China Telecom)

Yuanjing 中国联通 (China Unicom)

Jiutian 中国移动 (China Mobile)

Yuan 浪潮信息 (Inspur Electronic Information)

Mengzi

Yuyan 网易 (NetEase)

Yanxi / ChatJD 京东 (JD.com) CodeGeeX CodeGeeX 清华大学 (Tsinghua University) Tier 4 —— 新锐创业/垂直赛道 / Emerging Startups & Vertical Tracks

中文名 / Chinese Name 英文名 / English Name 开发方 / Developer TigerBot TigerBot

Cao Zhi

Yayi 中科闻歌 (Wenge Group)

Shanhai 云知声 (Unisound) DFM DFM 思必驰 (AISpeech)

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中文名 / Chinese Name 英文名 / English Name 开发方 / Developer ChatLaw ChatLaw 北大兔展 (Peking University & Rabbit Pre)

Fengshenbang IDEA研究院 (IDEA Research)

Zhihu AI 知乎 (Zhihu)

Taiyi

MathGPT MathGPT 好未来 (TAL Education Group)

Yuanwa

TRS / Tuotian

Westlake 西湖心辰 (Westlake Xinchen) Ling Ling / Emohaa

Light Year

by Meituan） PowerLaw PowerLaw 幂律智能 (PowerLaw AI)

Xianyuan 衔远科技 (Xianyuan Tech)

Zhizi 智子引擎 (Zhizi Engine) 总览速查表（按英文名 A→Z） / Overview Quick Reference Table (Alphabetical A-Z) English Name 中文名 / Chinese Name 估值层级 / Valuation Tier 360 Brain

~$1-2B AndesGPT AndesGPT 手机端侧 (On-device Mobile) Baichuan

~$2-3B BlueLM BlueLM 手机端侧 (On-device Mobile) Cao Zhi

<$500M ChatGLM

~$3-4B ChatLaw ChatLaw <$200M CodeGeeX CodeGeeX 学术开源 (Academic Open Source) DeepSeek DeepSeek ~$1-2B DFM DFM <$500M

Page 3 / 5 English Name 中文名 / Chinese Name 估值层级 / Valuation Tier Doubao

ERNIE

~$10-15B Fengshenbang

Hunyuan

~$8-12B InternLM

Jiutian

Kimi Kimi ~$3-4B Light Year

Meituan） Ling Ling <$200M MagicLM

MathGPT MathGPT <$500M Mengzi

<$500M MiLM

MiniCPM

<$500M MiniMax

~$2-3B Pangu

~$5-8B PowerLaw PowerLaw <$200M Qwen

~$15-20B SenseNova

~$3-5B Shanhai

<$500M Skywork

~$1-2B Spark

~$2-3B Taiyi

<$500M TigerBot TigerBot <$200M TRS

<$500M Westlake

<$200M Wudao

Xianyuan

<$200M

Page 4 / 5 English Name 中文名 / Chinese Name 估值层级 / Valuation Tier Xingchen

XVERSE XVERSE ~$500M-1B Yayi

<$200M Yanxi

~$1-2B Yi Yi ~$1-2B Yuan

<$500M Yuanjing

Yuanwa

<$200M Yuyan

~$500M-1B Zhihu AI

<$500M Zhizi

<$200M Zidong Taichu

Valuation tiers are approximate ranges based on market rumors/estimates rather than exact figures. Some academic or telecom operator models do not have independent valuations and are referenced by the size of their parent entities.

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