💨 Abstract

Chinese AI startup Zhipu AI received 500 million yuan ($69.04 million) in funding from Huafa Group, a state-owned conglomerate. This comes after Zhipu announced a separate 1 billion yuan capital raise earlier this month. The investment is part of China's efforts to support AI startups and compete with the United States in technology.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖