Chinese AI labs are doing serious numbers. I looked up all the reported and leaked numbers of the 5 big independent labs: Moonshot (Kimi), DeepSeek, Zhipu (GLM), Kuaishou (Kling), Minimax and the 2 hyperscaler labs: Bytedance (Seedance) and Alibaba (Qwen). The private labs are doing $2.6B in revenue run rate. Still behind the big 2 labs, but 4 of 5 are in the top 25 of global AI companies by revenue. With Kimi K3 dropping and Seedance 2.5 coming soon, China continues to close the gap on LLMs…