China's Zhipu AI raises $137 million as state funds bet on AI race

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China's Zhipu AI raises $137 million as state funds bet on AI race

Zhipu AI, a Chinese artificial intelligence startup, has successfully raised over 1 billion yuan, equivalent to $137 million, in a recent funding round. This investment follows a previous 3 billion yuan funding, highlighting the growing interest in AI ventures in China. The funding comes at a time when competition is intensifying, particularly with the rise of rival DeepSeek, which offers large language models at competitive prices.

The funds will be utilized to enhance Zhipu AI's GLM large language model and expand its AI ecosystem, particularly targeting businesses in the Zhejiang province and the Yangtze River Delta economic zone. This investment from state-backed entities like Hangzhou City Investment Group underscores the city's ambition to become a leading AI hub. Zhipu AI's plans to release new AI models under an open-source framework further demonstrate its commitment to innovation in the rapidly evolving AI sector.

• Zhipu AI raised $137 million to enhance its AI capabilities.

• DeepSeek's competitive models challenge established Western AI platforms.

Key AI Terms Mentioned in this Article

Large Language Model

Large language models are AI systems designed to understand and generate human-like text, crucial for Zhipu AI's development.

Open-Source Framework

An open-source framework allows developers to access and modify AI models, which Zhipu AI plans to implement.

AI Ecosystem

An AI ecosystem encompasses various AI technologies and applications, which Zhipu AI aims to expand with new funding.

Companies Mentioned in this Article

Zhipu AI

Zhipu AI is a prominent Chinese AI startup focused on developing advanced language models and AI solutions.

DeepSeek

DeepSeek is a rival AI company known for its competitive large language models that challenge Western counterparts.

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