💨 Abstract

Chinese AI startup Zhipu AI has secured 300 million yuan ($41.5 million) in investment from a Chengdu government-backed fund, with cities across China ramping up support for AI firms amid intensifying competition with the United States. The investment follows two funding rounds secured by Zhipu from local governments this month. Zhipu will use the funds to partner with Chengdu to develop a regional AI model and build AI infrastructure in the city.

Courtesy: theprint.in

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