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Zhipu AI, China’s AI Unicorn, Secures State-Backed Funding Surging to $2.8B Valuation Amid Mainland AI Boom
Zhipu, a Chinese unicorn company, secures new investment from a government-supported investor in the midst of China's AI surge. The state-funded investment entity, Zhongguancun Science City Innovation Development, approximates the value of Zhipu AI to be roughly US$2.8 billion.
Funds from Zhipu AI's most recent funding round, which is believed to be valued at "billions of yuan", as stated by local media source 36Kr on Thursday, are set to be utilized for encouraging tech innovation and expanding their large language models (LLMs) ecosystem. This was announced by lead investor Beijing Zhongguancun Science City Innovation Development, a government-supported investment entity, in their WeChat post shared on the same day.
Zhipu AI, officially recognized as Beijing Zhipu Huazhang Technology, did not promptly reply to a comment request on Thursday.
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