Chinese technology company Meituan has introduced LongCat-2.0, a new large language model that it says was trained entirely on Chinese-made AI chips. The company described it as the world’s first trillion-parameter AI system built and operated on a cluster of 50,000 domestic processors.
Meituan said it will open-source the model, allowing developers to use and build on the technology. The company added that LongCat-2.0 can process up to one million tokens in a single prompt and is designed to perform coding tasks more efficiently. It also claimed the model matched or outperformed several leading AI systems, including those from OpenAI, Google, and Anthropic, in selected coding benchmarks.
🚨BREAKING: China debuts its biggest AI model, LongCat 2.0, a 1.6 trillion-parameter giant, trained on domestic chips, rivaling NVIDIA-powered models 💡 pic.twitter.com/fEQXRfN3Xt
— Pulse Alpha (@pulsealpha_) June 30, 2026
Earlier versions of LongCat have already been used inside Meituan’s apps to recommend restaurants, hotels, and complete booking tasks. The company has not yet confirmed how LongCat-2.0 will be integrated into its broader business.
China expands its push for AI self-reliance
The launch comes as Chinese technology companies continue reducing their reliance on American chipmakers following U.S. export restrictions introduced in recent years.
Companies, including Huawei and Enflame, have increased production of AI processors to meet growing demand from domestic developers. Meituan said LongCat-2.0 was trained completely on locally produced hardware, although it did not identify the chip supplier.
The company also said a preview version of the model became one of the three most-used AI models on the OpenRouter marketplace before its official release.
Why does this matter for crypto companies?
Crypto companies are investing heavily in AI as they look to improve efficiency and develop new products. Exchanges, blockchain developers, and wallet providers already use AI for fraud detection, customer support, compliance monitoring, market research, and smart contract analysis. Several crypto firms have also reduced staff in recent years as they shifted more resources toward AI-powered operations.
China’s effort to build advanced AI models using domestic chips could also benefit blockchain development. Many blockchain applications depend on AI for automation and data processing. As more countries develop their own AI infrastructure, crypto companies may gain access to additional computing resources while reducing reliance on foreign hardware, creating new opportunities for both AI and blockchain innovation.
Meanwhile, China’s technology IPO market is on course for its strongest year since 2023 as Beijing steps up support for chipmakers and artificial intelligence companies. Technology firms have raised about $3.1 billion through stock market listings in mainland China this year to June 18, more than five times the amount raised during the same period last year, according to LSEG data.
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