Zhipu AI, a startup backed by the Chinese state, has successfully secured B-4 round funding. Leading tech giants, Alibaba and Tencent, are this round's primary investors. This news was initially reported by Chinese tech media outlet, 36Kr.
A Closer Look at Zhipu AI
Originating from the Tsinghua University's incubation program, Zhipu AI has garnered significant attention in the tech world. The startup's valuation nearly doubled after its most recent funding round. This growth can be attributed to the company's consistent efforts and achievements in the realm of artificial intelligence. Their collaboration with renowned scholars from Tsinghua's computer science department has resulted in the development of the GLM-130B language model. This model was the sole entry from Asia to be recognized in Stanford's global evaluation in 2022.
Valuation and Previous Investments
The recent influx of funds has elevated Zhipu AI's valuation to an impressive $1 billion. This is a significant leap from its previous valuation, which was established after a funding round led by Meituan earlier in the year. The amount raised during that round was in the hundreds of millions of yuan. This surge in fundraising activity follows the Chinese government's decision to grant several companies, including ZhipuAI, Alibaba, and Tencent, the license to unveil their generative AI services to the general public.
The Broader Context
The investment by Alibaba and Tencent in Zhipu AI is not just a testament to the startup's potential but also reflects the broader trend in the tech industry. Both Alibaba and Tencent have shown a keen interest in generative AI technologies, recognizing their transformative potential. This collaboration marks a significant step in the ongoing journey of integrating advanced AI solutions into everyday applications and services.