- China's AI landscape is undergoing a transformation, with startups like Zhipu receiving significant investments.
- Tech giants Alibaba, Tencent, and Ant Group contribute significantly to Zhipu's recent funding round, aligning with the startup's ambitious goals to compete globally.
Recent financial trends in China highlight a shift in focus towards the artificial intelligence (AI) sector, with an emphasis on nurturing and developing local start-ups. One such startup, Beijing Zhipu Huazhang Technology Co., better known as Zhipu, has capitalised on this wave of support, receiving significant financial backing from industry giants such as Alibaba, Tencent, and Ant Group.
The recent determination to plant firm roots in the AI landscape comes in response to the need to gain a competitive edge against tech powerhouses like Microsoft. In a bid to take on this challenge, Zhipu previously announced its spirited aspiration to rival Microsoft's OpenAI.
China's AI startup scene has witnessed a surge in investments, with Zhipu receiving substantial backing from Alibaba Group Holding Ltd (NYSE: BABA) and Tencent Holdings Ltd (OTC: TCEHY) in its most recent funding round. Notably, Ant Group Co, alongside other investors, has also contributed to Zhipu's ambitions, fostering a collective belief in the startup's potential.
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