In today’s Digest we discuss TikTok splitting its US staff ahead of a potential sale, China AI listings lifting MiniMax’s shares by 87%, and Anthropic planning a $10bn raise to reach a $350bn valuation.

TikTok splits US staff ahead of sale

Some US-based TikTok employees have been informed that they will not move into the newly proposed US joint venture, but will instead remain part of a separate global entity still owned by ByteDance. According to an internal memo reviewed by Business Insider, affected staff will be employed by TT Commerce & Global Services LLC, which will house businesses continuing to operate as part of TikTok’s global structure. These roles include teams working on commercial functions such as e-commerce, advertising and marketing, which TikTok chief executive Shou Chew said in December would stay connected to the platform’s international operations.

Employees whose work centres on sensitive areas such as data protection and algorithm security are expected to transition to the new US-based entity, TikTok USDS Joint Venture LLC. 

TikTok and ByteDance declined to comment on the reported staffing changes.

DeepSeek rival MiniMax sees shares soar 87% 

MiniMax, a Shanghai-based rival to DeepSeek, surged 87% on its trading debut after raising USD$619m (£458m) in an initial public offering. The shares rose to HK$310 (£31), giving the company a market capitalisation of more than USD$12bn (£8.88bn) and highlighting strong investor appetite for China’s fast-growing AI sector.

MiniMax is backed by investors including Alibaba and Tencent. Currently, most of its revenue is generated from consumer applications. 

Anthropic plans $10bn fundraise to reach $350bn valuation

Claude chatbot maker Anthropic is planning a fresh fundraising round of USD$10bn (£7.4 bn), which would send its value rocketing  to USD$350bn (£259bn), according to multiple reports. This would nearly double its valuation from roughly four months ago. CNBC reported that the company has signed a term sheet confirming the  figures. 

The round is expected to close within weeks, although the final size and terms remain subject to change.