Chinese start-up Zipu AI raises nearly $210 million from state funds - Factory Digitale

After raising nearly $140 million last week, Zhibu AI is reaping an additional $69 million from another government-supported fund.

Beijing accelerates the development of its national champions, among them Zhibu AI, founded in 2019 by researchers from Tsinghua University, which intends to impose itself as a global player of the generative AI. With the support of Tencent, Meituan and Xiaomi, the startup shows the ambition to compete with the American giants. But this rise runs counter to the sanctions imposed on the American giants. The article Zhibu AI: the Chinese alternati…