StepFun Step Plan (China)
Startup Fortune reports that Shanghai-based StepFun, backed by investors including Tencent, released Step 3.7 Flash at the end of May 2026 under an Apache 2.0 license as a sparse mixture-of-experts vision-language system. According to the article citing StepFun's Hugging Face model card, the model has a 196 billion par The piece also states that Step 3.7 Flash supports a 256K context window, three reasoning levels, and claimed throughput of up to 400 tokens per second, positioning the release as infrastructure for agent workflows and local deployment scenarios. It frames StepFun as a serious efficiency-focused competitor in the Chine