Chinese AI Unicorn Zhipu Raises $412 Million for More Firepower [Yahoo! Finance]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
Last alibaba group holding limited american depositary shares each representing eight ordinary share earnings: 2/13 06:45 am
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Source: Yahoo! Finance
Most Read from Bloomberg Hong Kong's Expat Party Hub Reshaped by Chinese Influx How California Sees the World, and Itself London's Tube Fares Are Set to Rise by 4.6% Next Year The company, which last year drew the backing of Chinese internet leaders Alibaba Group Holding Ltd. and Tencent Holdings Ltd., announced the completion of its latest fundraising in a statement on Tuesday. It comes as Zhipu has more than doubled its commercial revenue this year, according to the statement. Zhipu is one of a half-dozen promising AI startups in China that have earned lofty valuations in the billions of dollars and significant investment from incumbent tech giants in the country. In May, a venture investment arm of Saudi Aramco joined another $400 million funding round, valuing the Beijing startup at about $3 billion. AI development has quickly escalated into a capital-intensive arms race, as the likes of Meta Platforms Inc. and Microsoft Corp. spend tens of billions of dollars each ye
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