OpenAI’s competitor, Zhipu AI, secures funding from the Chinese food delivery giant
Meituan has made an investment in AI developer Zhipu AI
Zhipu AI, a prominent Chinese AI developer and a competitor to OpenAI, has successfully secured investment from Meituan, China’s largest food delivery company. The estimated market value of Zhipu AI stands at an impressive $100 billion.
Following this transaction, Meituan now holds a 10% stake in Zhipu AI, with additional investments coming from Qiming Venture Partners, Legend Capital, and Tsinghua Holdings. Prior to this funding round, Zhipu AI had already raised “hundreds of millions of yuan.” This injection of capital is expected to enable the company to further expand its capabilities in the field of AI development.
Notably, Zhipu AI is actively working on the development of ChatGLM-6B, a language model specifically designed for scientific and research applications. This model is trained on a massive dataset containing 6 billion parameters.
The partnership with Meituan has added value to Zhipu AI by granting access to Meituan’s vast database, which holds data from approximately 450 million users. Meituan’s platform allows users to order groceries and prepared meals, as well as book hotels, providing valuable data for Zhipu AI’s development endeavors.
