Latest news with #Zhipu
Time of India
23-04-2025
- Business
- Time of India
Zhipu AI ramps up overseas expansion strategy ahead of IPO
China's Zhipu AI is ramping up its overseas expansion through a partnership with Alibaba Cloud , an executive said on Wednesday, as the startup prepares for an initial public offering. The Beijing-headquartered startup is pitching governments globally to help them launch localised sovereign AI agents, vice-president Carol Lin told an audience at tech conference GITEX Asia . The company now has offices in the Middle East, Singapore, the United Kingdom and Malaysia, and is running joint " innovation centers " across Asia, including in Indonesia and Vietnam, she said. Founded in 2019 as a Tsinghua University spinoff, Zhipu AI has emerged among China's front-runners in the artificial intelligence race, alongside AI-focused startups Moonshot AI, Minimax, and Baichuan, while also competing with tech giants such as ByteDance and Alibaba. It initiated preliminary steps toward an initial public offering this month, according to filings posted on the Chinese securities regulator's website, aiming to become the first of China's emerging AI companies to go public. The company secured three rounds of state-backed funding within weeks in March, including a 300 million yuan ($41.5 million) investment from the Chengdu municipal government. Live Events Zhipu was added to the U.S. Commerce Department's export control entity list in January, barring it from procuring U.S. components. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories An advertisement for Zhipu's GLM shown during the presentation depicted a foreigner arriving in Beijing and using the firm's AI agent to send a WhatsApp message and search on Google Maps and Reddit for Beijing recommendations.
Reuters
23-04-2025
- Business
- Reuters
Zhipu AI ramps up overseas expansion strategy ahead of IPO
SINGAPORE April 23 - China's Zhipu AI is ramping up its overseas expansion through a partnership with Alibaba Cloud, an executive said on Wednesday, as the startup prepares for an initial public offering. The Beijing-headquartered startup is pitching governments globally to help them launch localised sovereign AI agents, vice-president Carol Lin told an audience at tech conference GITEX Asia. The company now has offices in the Middle East, Singapore, the United Kingdom and Malaysia, and is running joint 'innovation centers' across Asia, including in Indonesia and Vietnam, she said. Founded in 2019 as a Tsinghua University spinoff, Zhipu AI has emerged among China's front-runners in the artificial intelligence race, alongside AI-focused startups Moonshot AI, Minimax, and Baichuan, while also competing with tech giants such as ByteDance and Alibaba ( opens new tab. It initiated preliminary steps toward an initial public offering this month, according to filings posted on the Chinese securities regulator's website, aiming to become the first of China's emerging AI companies to go public. The company secured three rounds of state-backed funding within weeks in March, including a 300 million yuan ($41.5 million) investment from the Chengdu municipal government. Zhipu was added to the U.S. Commerce Department's export control entity list in January, barring it from procuring U.S. components. An advertisement for Zhipu's GLM shown during the presentation depicted a foreigner arriving in Beijing and using the firm's AI agent to send a WhatsApp message and search on Google Maps and Reddit for Beijing recommendations.
Yahoo
23-04-2025
- Business
- Yahoo
Zhipu AI ramps up overseas expansion strategy ahead of IPO
SINGAPORE - China's Zhipu AI is ramping up its overseas expansion through a partnership with Alibaba Cloud, an executive said on Wednesday, as the startup prepares for an initial public offering. The Beijing-headquartered startup is pitching governments globally to help them launch localised sovereign AI agents, vice-president Carol Lin told an audience at tech conference GITEX Asia. The company now has offices in the Middle East, Singapore, the United Kingdom and Malaysia, and is running joint 'innovation centers' across Asia, including in Indonesia and Vietnam, she said. Founded in 2019 as a Tsinghua University spinoff, Zhipu AI has emerged among China's front-runners in the artificial intelligence race, alongside AI-focused startups Moonshot AI, Minimax, and Baichuan, while also competing with tech giants such as ByteDance and Alibaba. It initiated preliminary steps toward an initial public offering this month, according to filings posted on the Chinese securities regulator's website, aiming to become the first of China's emerging AI companies to go public. The company secured three rounds of state-backed funding within weeks in March, including a 300 million yuan ($41.5 million) investment from the Chengdu municipal government. Zhipu was added to the U.S. Commerce Department's export control entity list in January, barring it from procuring U.S. components. An advertisement for Zhipu's GLM shown during the presentation depicted a foreigner arriving in Beijing and using the firm's AI agent to send a WhatsApp message and search on Google Maps and Reddit for Beijing recommendations. Sign in to access your portfolio
South China Morning Post
15-04-2025
- Business
- South China Morning Post
China AI unicorn Zhipu eyes IPO filing this year after DeepSeek's success
Zhipu AI, a Beijing-based artificial intelligence (AI) unicorn born out of China's prestigious Tsinghua University, has filed pre-initial public offering (IPO) documents with China's securities regulator as it eyes a public listing as soon as 2026 amid an increasingly competitive domestic landscape. Advertisement The 6-year-old company submitted the tutoring documents to the Beijing Securities Regulatory Bureau on Monday, a key compliance step before formally applying to the China Securities Regulatory Commission. The start-up plans to finalise its IPO application preparation by October, with China International Capital Corporation (CICC) serving as the tutoring institution. This would set it up for a possible IPO next year, but the company did not specify which exchange it is targeting. Meituan , Zhipu – whose controlling shareholders are founder Tang Jie, a renowned Tsinghua computer scientist, and chairman Liu Debing – has attracted more than 10 billion yuan (US$1.4 billion) in funding. Investors include state-backed entities such as Beijing's Zhongguancun Science City, Beijing AI Industry Investment Fund and local government funds from the cities of Chengdu, Hangzhou and Zhuhai. Venture capital firms HongShan Capital Group, GL Ventures, Qiming Venture Partners, Lightspeed China Partners and Capital Today are also backers, as are a number of Chinese tech giants, including Xiaomi Tencent Holdings and Alibaba Group Holding , owner of the South China Morning Post, according to corporate database Tianyancha and company announcements. Zhipu has quickly risen to become a darling of China's AI industry and is considered one of its 'four tigers' , alongside start-ups Baichuan, Moonshot AI and MiniMax. It has recently made some strategic investments as it looks to expand. 05:00 Does the arrival of China's low-cost DeepSeek mean the end of Nvidia's chip dominance? Does the arrival of China's low-cost DeepSeek mean the end of Nvidia's chip dominance? Last year, Zhipu launched a 1.5 billion yuan venture fund called 'Z', targeting early-stage AI start-ups. The fund has backed dozens of companies, including AI infrastructure firm Infinigence AI, Siliconflow, Modelbest and multimodal AI developer Vidu.
Bloomberg
15-04-2025
- Business
- Bloomberg
Alibaba-Backed AI Startup Zhipu Targets IPO as Soon as 2025
Zhipu has enlisted China International Capital Corp. to spearhead an initial public offering as soon as this year, angling to become the first of several prominent ChatGPT-competitors to tap public markets. The six-year-old firm and CICC have begun to prepare for the debut and could formally apply to list by October, according to IPO documents filed with the country's stock markets watchdog.
