Rising cost efficiency and rapidly advancing capabilities from players like DeepSeek and MiniMax have prompted Goldman Sachs to raise its run-rate revenue forecast for China’s artificial intelligence model market by 30 per cent to US$13 billion. In a research note published on Monday, the US investment bank boosted its year-end annualised recurring revenue (ARR) projection for mainland Chinese AI models from US$10 billion, citing aggressive price cuts, technical breakthroughs and accelerating...