Last week,Covet: Island of Desire Chinese AI startup ZhipuAI announced it secured RMB 2.5 billion ($342 million) in funding this year. Investors, including social insurance funds, Alibaba, and Tencent, have propelled the state-backed company’s valuation to over RMB 10 billion. Notable investors in ZhipuAI also include Meituan, Xiaomi, and Kanzhun, reflecting a growing interest in artificial intelligence following the launch of OpenAI’s pioneering ChatGPT in November. ZhipuAI’s chatbot, ChatGLM, stands out as one of the first generative AI services approved for public launch by the Chinese government in late August. [Caixin, in Chinese]
