Beijing’s Haidian District has once again demonstrated its commitment to fostering the development of the artificial intelligence (AI) industry with a significant $2 billion investment in an AI unicorn. This move highlights the district’s unique advantages in nurturing innovative technologies and its growing reputation as a hub for AI development.
The Investment in ZhiPu
The investment was made in ZhiPu, a leading AI company that has been making waves in the industry with its advanced AI models and cutting-edge technologies. The round, which was led by Zhongguancun Science Park, an investment platform established by the Haidian District Government, has bolstered ZhiPu’s valuation to over 20 billion yuan ($3 billion).
ZhiPu’s Rapid Growth and Technological Advancements
ZhiPu has been making significant strides in the AI industry, continuously releasing innovative technologies and expanding its commercial reach. Just a week ago, the company launched an upgraded version of its base model, GLM-4-Plus, which includes video call and video generation functions. The company has also introduced a multi-modal version of its AI model, supporting video and web understanding, including a visual model capable of understanding video content and a text-to-image model for image editing.
Haidian’s Support for AI Development
Haidian District has been actively supporting the development of the AI industry through various means. The district boasts a strong educational and research background, with prestigious universities such as Tsinghua University and Peking University, as well as research institutions like the KEG Lab of Tsinghua University, providing solid support for AI research and talent cultivation.
The district government has also been proactive in implementing policies to promote AI development, such as providing subsidies for computing power and funding support. Haidian has established a public computing power platform, with plans to deploy 10,000P of computing power and collaborate with other regions.
A Thriving AI Ecosystem
Haidian District has become a thriving hub for the AI industry, attracting numerous leading companies such as Baidu, Megvii, and Fourth Paradigm. These companies cover the entire AI industry chain, from the foundational layer to the application layer, making Haidian a powerful force in the global AI landscape.
The Role of State-owned Capital
The investment in ZhiPu by Zhongguancun Science Park, a state-owned investment platform, underscores the growing role of state-owned capital in supporting AI companies. This trend reflects the recognition that AI is a national project and that state-owned capital plays a crucial role in fostering the industry’s growth.
Conclusion
Haidian District’s bold move in investing $2 billion in ZhiPu is a testament to its dedication to promoting the AI industry. With its unique advantages in education, research, and government support, Haidian is well-positioned to become a global leader in AI development.
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