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

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Chinese artificial intelligence startup Zhipu AI has raised more than 1 billion yuan ($137.22 million) in fresh funding, months after securing a 3 billion yuan investment.

The funding round comes amid intensifying competition in China’s AI sector, particularly after rival DeepSeek’s emergence with its large language models that claim to match Western competitors’ capabilities at lower costs.

State-backed Hangzhou City Investment Group Industrial Fund and Shangcheng Capital are among the investors in the round, Zhipu AI said in a WeChat statement on…



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


Chinese artificial intelligence startup Zhipu AI has raised more than 1 billion yuan ($137.22 million) in fresh funding, months after securing a 3 billion yuan investment.

The funding round comes amid intensifying competition in China’s AI sector, particularly after rival DeepSeek’s emergence with its large language models that claim to match Western competitors’ capabilities at lower costs.

State-backed Hangzhou City Investment Group Industrial Fund and Shangcheng Capital are among the investors in the round, Zhipu AI said in a WeChat statement on…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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