2026-01-08 17:25:00

Recently, discussions about domestic large models have sparked a wave. The company's IPO should be good news, but the market's response is quite interesting—no longer congratulating and celebrating, but instead asking, "Where is the funding road?" This reflects a reality: the AI wave is surging, but implementation is far more difficult than imagined. Startup teams at the application layer face obstacles when seeking funding, with valuation gaps of hundreds or even thousands of times; infrastructure model layers are even more challenging, with each step testing the limits of technology. Large model vendors are in an awkward position—they need continuous funding to invest in R&D, but investors' doubts about the commercial prospects are growing stronger. Against this backdrop, teams that persistently push forward with the development of domestic large models deserve to be recognized.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

16 Likes

Reward
16
6
Repost
Share

Comment

0/400

DecentralizedElder

· 3h ago

Hundredfold and thousandfold valuation gaps, this difference is just too outrageous The pace of burning money can't keep up with the speed of financing, sooner or later it will collapse Domestic large models still need continued support, but the prospects... who dares to say for sure Investors are not fools; if the business closed-loop isn't working, why keep throwing money in Instead of pessimism, it's better to think about how to survive; this is the real skill The infrastructure layer is still feeling its way across the river, there's no rush Large model manufacturers are now in an awkward position, caught between a rock and a hard place How long have we been talking about the difficulty of landing? Are you only realizing it now? With such a blocked financing route, how desperate must startup teams be Persistence also requires eating; how long can those without money keep going?

View OriginalReply0

HalfPositionRunner

· 19h ago

Well, the difficulty in fundraising essentially comes down to not seeing real cash. No matter how loud you boast, it’s useless. Valuations differ by a thousand times? Why not just say someone is throwing a tantrum? It's a money-burning game, and investors have seen through it long ago. Now everyone is waiting to see who can survive until the end. Persistence is possible, but someone has to foot the bill—that’s the key. Honestly, the path of domestic large models has a big gap between imagination and reality. This is a typical fundraising story—good technology, but the money is gone. The era of burning money isn’t over yet, but the door to fundraising is indeed closing, and that’s awkward.

View OriginalReply0

AirdropLicker

· 19h ago

Basically, it's just hard to make money. It looks like a big opportunity, but in reality, you can't raise funds.

View OriginalReply0

fren_with_benefits

· 19h ago

Burning money on R&D with no funding in sight—that's the real dilemma of large models.

View OriginalReply0

RektButAlive