China’s Zhipu AI takes initial steps to an IPO

Chinese artificial intelligence startup Zhipu AI has initiated preliminary steps toward an initial public offering, aiming to become the first of China‘s emerging AI companies to go public.

Founded in 2019 as a Tsinghua University spinoff, Zhipu AI has emerged among China’s front-runners in the artificial intelligence race, alongside AI-focused startups Moonshot AI, Minimax, 01.AI, Baichuan, and StepFun, while also competing with tech giants such as ByteDance and Alibaba in the sector.

The company attracted attention earlier this year after securing…