A new generation of entrepreneurs is challenging US dominance — and rapidly building huge fortunes on the back of China’s quest for technological independence.Illustrations by Petra PéterffyFebruary 12, 2026 at 5:00 PM ESTFour years ago, as Yan Junjie pitched his vision for artificial intelligence startup MiniMax Group Inc. to China’s largest internet companies and tech investors, the response was unanimous — and brutal.“They genuinely believed we were frauds,” Yan recalls of the response to his...