Saudi Fund Joins $400 Million Financing for China AI Firm Zhipu
- VC first known foreign firm to invest in Chinese generative AI
- Zhipu is one of China’s earliest and best-funded AI startups
This article is for subscribers only.
Saudi Arabia’s Prosperity7 Ventures, LLC joined the latest financing round for up-and-coming startup Zhipu AI, becoming the first known foreign firm to back a major Chinese player in generative artificial intelligence.
The fund, an arm of Saudi Aramco, joined a recent investment that valued the Beijing-based startup at about $3 billion, according to people familiar with the matter, asking not to be identified because the deal hasn’t been publicized.