On January 26, Shanghai-based large model unicorn **StepFun** announced the completion of a 5 billion RMB Series B+ round financing, setting a new record for the highest single investment in China's large model sector in the past year. This round of financing was led by multiple state-owned and local funds, including Shangguo Investment, Guoshou Equity, and others, with continued investments from existing shareholders such as Tencent and Matrix Partners. The funds will be used for developing an advanced foundational model and accelerating the implementation of the "AI + Terminal" strategy。

On the same day, **Yin Qi**, the founder of Megvii Technology, officially joined StepFun as chairman, responsible for setting the company's strategic pace and technical direction. This management change indicates that StepFun has formed a "top team" consisting of Yin Qi (Chairman), Jiang Daxin (CEO), Zhang Xiangyu (Chief Scientist), and Zhu Yibo (CTO).

Currently, the company has made breakthroughs in the "end-to-cloud collaboration" field. Its model has been installed on more than 42 million mobile devices, and it is accelerating the mass production and scaling of large models in automotive terminals such as smart cockpits。