According to CoinMeta, Silicon Flow has announced the completion of its Series B+ Phase II and Series C financings. Last year, it generated revenue of 55.33 million yuan, and this year, the cumulative amount of equity financing has approached 2.9 billion yuan. Based on the projected throughput for 2025, Silicon Flow ranks fourth among all token suppliers in China, with a market share of only 1.5%. The top three providers, Volcano Engine, Alibaba Cloud, and Baidu Smart Cloud, account for 42.7%, 32.5%, and 11.8%, respectively. Investors in this round of financing include Chinese internet investment funds and Guoxin Fund, indicating a strong presence of state-owned capital. The company reported a net loss of 345 million yuan in 2025, with an overall gross margin of -24%. Additionally, Beijing has recently released the country's first provincial-level policy dedicated to the metaverse economy, explicitly aiming to build a "world-class metaverse factory," and has listed areas such as reasoning engines, model-chip adaptation, and heterogeneous computing power as key development directions.