Latest news with #Zhipu
Bloomberg
11-07-2025
- Business
- Bloomberg
OpenAI Challenger Zhipu Said to Weigh Shifting IPO to Hong Kong
Chinese AI startup Zhipu is considering shifting its planned initial public offering to Hong Kong instead of mainland China, according to people with knowledge of the matter, adding to a dealmaking boom in the city. Zhipu, whose backers include Alibaba Group Holding Ltd. and Tencent Holdings Ltd., is working with financial advisers on a potential first-time share sale that could raise about $300 million, said the people, asking not to be named because the deliberations are private.
Time of India
26-06-2025
- Business
- Time of India
Sam Altman-led OpenAI has a problem with this China's ‘AI tigers' company; says ‘The goal is to…'
OpenAI has raised concerns about Chinese artificial intelligence firm Zhipu AI, calling it a major player in China's bid to dominate the global AI market. In a blog post published Wednesday (June 25), the company said Zhipu AI has made 'notable progress' and is on the 'front line' of Beijing's push to expand its AI influence. Founded in 2019, Zhipu AI has been described by Chinese media as one of the country's 'AI tigers' — a group of high-growth large language model companies seen as key to China's strategy to reduce reliance on US technology. OpenAI highlights Zhipu AI's Beijing links and overseas activity According to OpenAI, Zhipu AI has received over $1.4 billion in backing from various state-linked sources and maintains close ties with the Chinese Communist Party (CCP). The company's leadership 'frequently engages with CCP officials, including Premier Li Qiang,' the blog post said. The ChatGPT-maker highlighted that Zhipu is also expanding globally, with offices in the UK, Singapore, Malaysia, and the Middle East, and joint innovation centers in countries like Indonesia and Vietnam. OpenAI warned that Zhipu's efforts align with China's 'Digital Silk Road' strategy, which aims to embed Chinese AI systems and standards into emerging markets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like How to Find Industrial Equipment Providers in Belgium (Learn More) Equipment Manufacturers | Search Ads Undo 'In practice, this means: forming an alliance that co-builds national LLMs with ASEAN and other Belt and Road capitals; opening joint innovation centers; embedding safety labs such as the new Dubai Content-Safety Lab (corroborated by CN sources); and, underwriting projects with Gulf capital (the Saudi Prosperity7 Aramco fund participated in a USD $400M round) and Huawei Ascend hardware, albeit not at Stargate-level scale,' the company highlighted. 'The goal is to lock Chinese systems and standards into emerging markets before US or European rivals can, while showcasing a 'responsible, transparent and audit-ready' Chinese AI alternative,' OpenAI said. Zhipu AI has not responded to OpenAI's latest remarks. However, company chairman Liu Debing said last week that Zhipu hopes to 'contribute China's AI power to the world.' Zhipu has also been linked to China's military modernization efforts. This led to its inclusion on the US Commerce Department's Entity List in January. The firm is reportedly preparing for an initial public offering and was last valued at around $2.78 billion. Meanwhile, OpenAI has been expanding its own presence. It recently secured a $200 million contract with the US Defense Department and announced an 'OpenAI for Government' program aimed at US public sector use. It also plans to build an AI-focused facility in the UAE under the $500 billion Stargate Project, backed by Abu Dhabi's MGX and Japan's SoftBank. Skullcandy Dime Evo: 5 Features That Make It Stand Out! AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Yahoo
20-06-2025
- Business
- Yahoo
Chinese AI startup MiniMax reportedly eyeing Hong Kong IPO
Chinese AI company MiniMax is exploring plans for an initial public offering (IPO) in Hong Kong, reported Bloomberg citing sources familiar with the matter. The Shanghai-based company, valued at approximately $3bn, could pursue a listing as early as this year, the sources told the publication. MiniMax has engaged financial advisers to support the IPO process. However, deliberations are ongoing, and details such as the company's valuation and the timing of the listing may still change, the sources added. MiniMax did not respond to requests for comment, Bloomberg said. A potential IPO by MiniMax would offer investors an opportunity to invest in a new wave of Chinese companies driving advancements in AI technology. Another prominent AI startup, Zhipu, is also preparing for a public listing. Interest in these companies, often referred to as China's 'AI Dragons' or 'Tigers,' surged following the launch of DeepSeek in January 2025, as these startups compete with larger tech giants to challenge US industry leaders such as OpenAI. Established in 2021, MiniMax secured $600m in a funding round last year, which valued the company at around $2.5bn at the time. The round was led by Alibaba Group Holding, with earlier investments from entities including Tencent Holdings. Zhipu also counts Alibaba and Tencent among its backers. MiniMax recently introduced a new AI reasoning model, M1, which it claims is larger and more resource-efficient than DeepSeek's latest offering. The company also enhanced its text-to-video model, which powers its video editing platform, Hailuo AI. Additionally, MiniMax offers an AI companion app called Talkie, positioning it as a competitor to US-based In January 2025, MiniMax launched a range of affordable open-source models. The company introduced the MiniMax-01 family of large language models (LLMs), which includes the foundational MiniMax-Text-01 and the multimodal MiniMax-VL-01 featuring visual capabilities. Other AI Tigers, such as Baichuan and Moonshot, have also rolled out new models in recent months, underscoring the sector's competitive momentum. "Chinese AI startup MiniMax reportedly eyeing Hong Kong IPO" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-06-2025
- Business
- Yahoo
Alibaba-Backed ‘AI Dragon' MiniMax Is Said to Plan Hong Kong IPO
(Bloomberg) -- MiniMax is considering an initial public offering in Hong Kong, people familiar with the situation said, in what would be a landmark industry debut for a Chinese AI startup valued at about $3 billion. Security Concerns Hit Some of the World's 'Most Livable Cities' How E-Scooters Conquered (Most of) Europe As Part of a $45 Billion Push, ICE Prepares for a Vast Expansion of Detention Space JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads Taser-Maker Axon Triggers a NIMBY Backlash in its Hometown MiniMax, one of China's so-called AI Dragons or Tigers, could aim to list as soon as this year, according to the people, who asked not to be identified because the information is confidential. The Shanghai-based company has hired financial advisers for the IPO, they said. Deliberations are ongoing and details such as valuation and timing could change, the people said. The company didn't respond to a request for comment. A MiniMax IPO would enable investors to buy into a new generation of Chinese firms advancing AI technology. Another, Zhipu, is also preparing for an IPO. The emergence of DeepSeek in January fired up interest in the startups, which are now vying with larger tech companies to compete with US leaders like OpenAI. Founded in 2021, MiniMax raised $600 million last year in a financing round that valued it at about $2.5 billion at the time. The deal was led by Alibaba Group Holding Ltd. and followed earlier fundraising involving Tencent Holdings Ltd., among others. Zhipu is also backed by Alibaba and Tencent. Video: Alibaba to Invest in AI Firm MiniMax at $2.5B Valuation MiniMax has released a new AI reasoning model called M1, saying it is bigger and less resource-consuming than DeepSeek's latest model. It also upgraded a text-to-video model underpinning its video editor Hailuo AI. Other products include AI companion app Talkie, which competes with in the US. Chinese tech firms are racing to build low-cost AI products and will require capital to sustain a dizzying pace of investment and research. Other AI Tigers including Baichuan and Moonshot have unveiled new models in recent months. --With assistance from Zheping Huang. Ken Griffin on Trump, Harvard and Why Novice Investors Won't Beat the Pros Mark Cuban Has Done Sports, Reality TV and Now Health Care. Why Not US President? How a Tiny Middleman Could Access Two-Factor Login Codes From Tech Giants American Mid: Hampton Inn's Good-Enough Formula for World Domination The Spying Scandal Rocking the World of HR Software ©2025 Bloomberg L.P.
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.
