TL;DR:
- Meituan, the takeout delivery giant, invests in Zhipu AI, a Chinese rival of ChatGPT.
- The strategic investment raises Zhipu AI’s valuation to nearly USD 500 million.
- Zhipu AI’s algorithm effectively optimizes Meituan’s advertising algorithm.
- The startup’s GLM-130B, an ultra-large pre-training system for Chinese and English languages, has gained global recognition.
- Zhipu AI’s team members are associated with the development of Wudao, another prominent LLM.
- Meituan’s interest in language models extends to the acquisition of Light Year, an AI startup.
Main AI News:
Exciting news in the tech world as Meituan, the renowned takeout delivery giant, makes a significant investment in Zhipu AI, a leading Chinese competitor of ChatGPT. This strategic move has propelled the startup’s valuation to an impressive sum of nearly USD 500 million.
According to a recent report by 36Kr, Meituan pledged hundreds of millions of Chinese yuan, equivalent to tens of thousands of US dollars, during Zhipu AI’s Series B2 fundraising round a few months ago. The move demonstrates Meituan’s commitment to exploring new frontiers in the artificial intelligence landscape.
One notable aspect of Zhipu AI’s appeal is the success of its algorithm in optimizing Meituan’s advertising system. As reported by 36Kr, the startup’s algorithm has proven highly effective, earning acclaim from experts in the field. With Meituan’s substantial investment, the Beijing-based large language model startup is now poised to accelerate the practical application of language models, shifting from research and development to real-world implementation.
Established in 2019 by Tang Jie, a prominent computer science professor at Tsinghua University, Zhipu AI has experienced steady growth and support from key investors. In a Series B funding round held last September, the startup secured an impressive CNY 100 million (USD 14 million), led by prestigious firms Legend Capital and Qiming Venture Capital.
Zhipu AI’s innovative approach to language models has been instrumental in the launch of GLM-130B, an ultra-large pre-training system capable of handling both the Chinese and English languages. The Stanford Large Model Center evaluated 30 prominent LLMs worldwide and recognized GLM-130B as the sole Asian representative, solidifying its position in the global market.
Impressively, GLM-130B performs on par or even surpasses other large models developed by industry giants like OpenAI and Google Brain across various key performance indicators. The system’s excellence has attracted interest from over 1,000 institutions spanning 70 countries worldwide, indicating a high demand for its capabilities.
Adding to its prestige, Zhipu AI’s core team members have been actively involved in the development of Wudao, another noteworthy LLM designed in collaboration with Tsinghua University and the Beijing Academy of Artificial Intelligence. This ongoing commitment to research and innovation bolsters the startup’s reputation as a pioneer in the language model domain.
Furthermore, Meituan’s interest in language models goes beyond its investment in Zhipu AI. In a notable move last month, the company acquired Light Year, an artificial general intelligence startup co-founded by Meituan’s own Wang Huiwen in February. The acquisition was valued at nearly CNY 2.1 billion (USD 293 million) and reflects Meituan’s strategic focus on exploring the potential of AI-driven technologies.
Conclusion:
Meituan’s significant investment in Zhipu AI signals the growing importance of language models in the market. The startup’s successful application of language algorithms and the global recognition of GLM-130B position Zhipu AI as a key player in the AI landscape. As Meituan continues to explore AI-driven technologies through acquisitions like Light Year, it indicates a strong push for innovation and competitiveness in the industry. Businesses across various sectors should take note of the rising influence of language models and their potential to reshape operations and customer experiences.
