China's Z.ai (Zhipu) raises about $5 billion for the next generation of GLM models
Prepared by Sintelligent with the help of SI. Publication time restored from the build log. . Updated: .
While the US debates slowing down, Chinese labs are raising billions for models meant to teach themselves.
The company got about $2 billion from a sale of new H shares and about $3 billion from zero-coupon convertible bonds. The money will go to new GLM foundation models, a "fully self-learning system," compute, automatic generation of training data and adaptation to Chinese chips. After the deal, Z.ai raised its full-year revenue forecast by 25%, from $2.4 billion to $3 billion.
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