🚀 The AI startup Zhipu, backed by Alibaba and Tencent, plans to go public this year and could become the first listed company to be a major competitor to ChatGPT. The six-year-old company has hired China International Capital Corporation to lead the listing, and is expected to submit a formal application in October. Zhipu is one of the few...

🚀 AI startup Zhitu, backed by Alibaba and Tencent, plans to go public this year and may become the first listed company to be ChatGPT's biggest competitor. The six-year-old company has hired China International Capital Corporation to lead the listing and is expected to submit a formal application in October. Zhitu is one of the few Chinese startups challenging OpenAI globally, quickly launching low-cost AI services alongside competitors like Moonshot and Minimax. In March this year, Zhitu completed a $137 million financing led by a local government-backed company, highlighting Beijing's growing interest in AI. Previously, the company was placed on the US trade restriction blacklist in January, which may limit its access to key technologies. Despite global market volatility, Zhitu's move highlights the need for AI startups to raise funds to sustain rapid investment and research.

(Financial Flash News)

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