Growing Demand for MaaS Platform Stimulates Investment Attraction

[moniya12]

The new funding brings Zhipu AI's valuation to over RMB 20 billion, making it one of the most valuable AI startups in China.

The latest fundraising attracted several strategic and public investors, while existing shareholders including Legend Capital increased their stakes, the company said.


The funds will be used to accelerate the development of a series of large GLM models that extend capabilities from basic question-answering to complex reasoning and multimodal tasks, the company said in a statement.

The Beijing-based company also said its revenue this year more than doubled from 2023, helped by rising demand for its model-as-a-service (MaaS) platform bigmodel.cn.

Read more CHINA NEWS China's digital economy: Building data systems in focus
Despite a mid-year price war that saw intense competition in angola email address China’s AI sector, Zhipu’s API revenue has grown more than 30 times year-on-year, while daily token consumption has jumped 150 times. The MaaS platform has already attracted 700,000 enterprise users and developers, the company adds.

The news from China “Zhipu AI invests in the development of large GLM models” was prepared by the PRC.TODAY Portal based on materials from the China Daily website.

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