Aramco Ventures’ fund Prosperity7 has participated in a $400 million funding round for the Chinese AI start-up Zhipu AI. The Saudi-backed venture capital firm is a minority investor, with the funding round valuing Zhipu AI at approximately $3 billion. Zhipu AI, headquartered in Beijing with over 800 employees, has previously received investments from major players like Alibaba Cloud, Tencent, Meituan, and the National Social Security Fund. The move marks another significant investment by Aramco Ventures, which saw an boost in its investment allocation to $7 billion earlier this year.
Venture Capital, Artificial Intelligence, Technology,China, Saudi Arabia
https://www.zawya.com/en/wealth/alternative-investments/aramco-ventures-unit-invests-in-400mln-funding-round-of-chinas-zhipu-ai-report-axcw2aar