---
title: "Unique Research: May 2024 China AIGC Industry Monthly — Capital"
author: "Unique Research"
sourcePublication: "Unique Research (FFCAP English library)"
originalPublishedAt: "2024-06-19T16:00:00+08:00"
canonical: "https://ffcap.cn/en/research/20240619a05uq100"
source: "https://ffcap.cn/en/research/20240619a05uq100"
language: "en"
cnSourceUrl: "https://view.inews.qq.com/a/20240619A05UQ100"
---

# Unique Research: May 2024 China AIGC Industry Monthly — Capital

_Unique Research · Capital monthly · June 19, 2024_

May 2024 AIGC financing — global overview, China vs. overseas, active investors, and secondary-market color. Charts image-only — attach on ingest.

## 01 · May snapshot

-   Global AIGC financing in May: **¥14.3B**, **+346.9%** vs April
-   Largest single check: **Mistral AI $600M** (~¥4.265B) — French LLM lab founded May 2023; CEO Arthur Mensch aims past Silicon Valley leaders
-   China highlight: AI education **Jingzhunxue (精准学)** — **¥200M** equity from Alibaba; exam-gene knowledge graphs + personalized teaching
-   Since 2022, LLM firms have raised trillions of RMB cumulatively; OpenAI alone >¥70B raised / >¥200B valuation cited; Moonshot (月之暗面) >¥7.2B with another round rumored (China Securities Journal)

**Overseas May:** angels active in early rounds (MavenAGI, Laws of Motion, Malted AI). Five companies at $100M+ USD: Mistral AI, DeepL, **H** (ex-Holistic AI) — **$220M seed** from DeepMind alumni / CEO Charles Kantor (ex-Stanford) building “frontier action models” for worker productivity — Weka.IO, Suno AI.

**China May:** **87** institutions invested; Hong Kong X Tech Fund and MiraclePlus each twice, others once. **50** AIGC companies funded; **10** at ¥100M+ (Jingzhunxue, Yuanting, Youlu Robot, Saifu Gene, Lianxin Digital, Yizhu Tech, Chaoxing Future, Zunshi Tech, etc.); **24** at ¥10M+.

## 02–04 · YTD through May

-   2024 YTD global AIGC financing ~**¥78.4B**, −3.3% vs prior-year ¥81.1B — but far more deals (263 vs 50)
-   By country amount: U.S. **¥40.603B** / 70 deals (~48% of China’s deal count); China **¥17.153B** / **145** deals (most deals); Canada ¥4.189B / 3; UK ¥2.648B / 10; Korea ¥1.525B / 3
-   China active investors (Jan–May): MiraclePlus **12** deals; Alibaba 4; six firms at 3 (Baidu Ventures, iFlytek, GSR, Ameba, Shunxi, etc.); 19 names at 2
-   China: **131** companies financed YTD; **27** at ¥100M+; Moonshot **$1B** largest, MiniMax **$600M** second. Feb amount led months at ¥8.249B on Moonshot disclosure; May jumped to ~2× 2024 monthly average
-   Overseas active LPs: General Catalyst 5; Lightspeed / NEA / a16z 4; eight firms incl. NVIDIA, Sequoia, Index at 3. Amazon ~¥2B leading by amount; 49 overseas firms put ≥¥1B YTD. Overseas projects Jan–May ~**¥61.3B**

## 05 · Secondary market

East Money AIGC concept index (May 31): **1,248.19**, −9.22% MoM; turnover ¥549B; turnover ratio 47.77%. (CN also notes unrelated fashion-design listing color in source — charts carry board detail.)

## 06 · Disclaimer

For research reference; not investment advice. Credit Unique Research when citing.

_21 CN charts; attach on ingest._

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Editorial English edition published on UniqueCapital: https://ffcap.cn/en/research/20240619a05uq100
On-site reading page: https://ffcap.cn/en/research/20240619a05uq100