This Alibaba-backed company is launching AI model to rival OpenAI
What's the story
Zhipu, a Chinese artificial intelligence (AI) company, is gearing up to launch an upgraded version of its open-source language model, GLM-4.5. The launch is expected soon and is part of the company's efforts to position itself against global players like OpenAI. The move comes amid a growing trend among Chinese tech companies to make advanced AI models freely accessible.
Industry trend
Chinese companies are adopting open-source strategies
Zhipu's move is seen as a way to drive adoption and shape global AI standards, especially amid the expansion of Western competitors like OpenAI and Anthropic. Along with Moonshot and StepFun, Zhipu is among the Chinese tech firms pushing this open-source movement forward.
Financial strategy
Zhipu re-evaluating its IPO strategy
Along with its AI developments, Zhipu is also re-evaluating its listing strategy. Bloomberg reported earlier this month that the company is considering moving its planned initial public offering (IPO) from mainland China to Hong Kong. The move might raise up to $300 million and is said to be in collaboration with financial advisers. Zhipu's investors include Chinese tech giants Alibaba and Tencent.