Global AI venture capital surged in Q1 with over 600 deals totaling more than 110 billion yuan up 185 year on year Major Chinese firms like Moonshot and StepStar secured large funding in May while embodied intelligence startups also attracted billions Capital is heavily concentrated in three areas basic R&D with budgets reaching tens of billions infrastructure like GPUs and cloud services and competition for top talent This intensive investment is shortening tech iteration cycles to under three months and slashing inference costs accelerating AIs shift from technical breakthroughs to large scale commercial application