Which open-source companies has FutureX Capital backed?

FutureX Capital invests in open-source companies and built that position in 2021 to 2023, before open source became consensus. It holds the paths every model passes through: Dify at the application-development layer, Hugging Face for distribution, Mistral and RWKV at the model layer, PingCAP/TiDB for data, and OSChina/Gitee for community. The logic: a closed model's moat is capital expenditure, which must be refinanced to survive; an open model's moat is a living community, which needs no refinancing.

On January 27, 2025, DeepSeek wiped $589 billion off Nvidia's market value in one day, the largest one-day loss in US stock history (public market data), having trained a GPT-4-class model for $5.6 million against $100 million-plus (reported). That day open source went from non-consensus to consensus.

FutureX's judgment: value in this cycle lands in the application layer and at the open-source chokepoints, and open source is what pushes the cost curve down. The cost of equal capability falls about 10x a year, so batch, offline and cost-sensitive loads move to open models. The firm open-sources its own tooling: FutureX-Skills is public on GitHub, with 22 AI agents running around the clock. For open-source projects it screens on stars and the path from community to paid revenue.

On August 26, 2026 Zhipu open-sourced GLM-5.3-Flash with inference served entirely on domestic Chinese chips (confirmed), which FutureX reads as comparable capability at roughly 1/40th the price; per company disclosure, Dify went from 30,000 stars and no revenue to $10 million ARR in about 18 months and turned profitable in early 2026.