With strategic backing from government-backed firms and tech giants, Zhipu’s funding highlights the intensifying competition in China’s AI sector following DeepSeek’s breakthrough. Hangzhou, China — Zhipu, the Chinese AI startup backed by Alibaba and Tencent, has successfully raised more than 1 billion yuan ($140 million) in its latest funding round, underscoring the growing intensity of China’s AI sector. The round was led by Hangzhou Municipal Construction Investment Group Co. and Shangcheng Capital, both entities controlled by the local government of Hangzhou — the same city that is home to DeepSeek, the AI model that has recently captured global attention. Zhipu’s … Continue reading Alibaba-Backed Zhipu Raises $140 Million Amid Surge in China’s AI Race, as DeepSeek Sets the Pace