In May, the Matthew effect became even more pronounced in China's AI venture capital landscape, as capital increasingly converged on market-leading companies. Take Moonshot AI as an example; it successfully closed a new funding round in early May, raising approximately US$2 billion and achieving a post-investment valuation surpassing US$20 billion. This not only represents the largest single funding round in the company's history but also ranks among the highest private equity financings achieved by domestic large-scale model startups, propelling its cumulative funding to over RMB 37.6 billion. Meanwhile, the embodied AI sector witnessed a flurry of investment and financing activities. Since May, companies like Feijieke Si and Moushen AI have secured funding in the hundred-million-yuan range, while projects such as Vita Dynamics and Luming Robotics have swiftly followed suit, completing substantial financing deals one after another.