2024 Hurun China AI Top 50: Cambricon Technology (688256.SH) topped the list Beijing leads with 20 companies listed.

On January 9th, the Hurun Research Institute released the "2024 Hurun Top 50 Chinese Artificial Intelligence Companies" for the first time in Beijing. Founded in 2016, the AI chip company Cambricon Technology (688256.SH) based in Beijing topped the list with a value of 238 billion RMB, followed by intelligent speech company iFlytek Co., Ltd. (002230.SZ) with a value of 116 billion RMB in second place, and machine vision and big model company SenseTime (00020) with a value of 50 billion RMB in third place. It is reported that the "2024 Hurun Top 50 Chinese Artificial Intelligence Companies" is ranked according to enterprise value. The market value of listed companies is calculated based on the closing price on December 18, 2024, while the valuation of non-listed companies is estimated based on comparable listed companies in the same industry or the latest round of financing information (as of December 18, 2024). There are 27 non-listed companies on the list, with a minimum value threshold of 6 billion RMB, and the top ten have a minimum value threshold of 22 billion RMB. Beijing and Shanghai account for sixty percent of the listed companies, with over eighty percent of the companies from first-tier cities. Beijing leads with 20 listed companies, including Cambricon Technology, Moon's Dark Side, and FOURTH PARADIGM; Shanghai has 9 listed companies, represented by SenseTime, Horizon Robotics, and Didi Autonomous Driving; Shenzhen has 8 listed companies, including Yunfeng Intelligent Flight, Orbbec, and Jingtai Technology; Guangzhou has 4 listed companies, represented by Pony.ai, CloudWalk Technology, and Yuncong Technology. First-tier city companies account for over 80% of the total listed companies, highlighting the important position and clustering effect of first-tier cities in the AI field. The youngest listed companies are Moon's Dark Side, Hundred Rivers Intelligence, and Zero to Infinity, all founded in 2023 and are big model companies based in Beijing. It is important to note that this list only includes non-physical intelligence companies, and does not include physical intelligence companies such as intelligent cars (such as Xiaopeng Motors), drones (such as DJI), and smart homes (such as Ecovacs Robotics). In addition, companies that excel in the AI field but where AI is not their core business (such as ByteDance, Alibaba, Tencent, etc.) are also not included in the selection criteria for this list.