StepFun raises $2.5B in a venture round

StepFun is an AI technology company that develops large language models and multimodal AI systems to process and generate text. The company announced a $2.5B venture round on May 8, 2026, from its base in Xuhui, CN. Investors and valuation were not disclosed in Crunchbase's round record; Lounge adds them as they are reported. It has raised more than $100M in total venture funding.