Chinese Tech Giants Alibaba and Tencent Lead $341 Million Funding Round for OpenAI Rival Zhipu

Chinese AI start-up Zhipu has raised $341 million in funding, with backing from tech giants Alibaba and Tencent, among others. Zhipu aims to be China's answer to American firm OpenAI and is developing AI models trained on large datasets for various applications. This comes as the US and China continue their technology battle, with AI at the forefront. China sees AI as a key technology for economic growth and plans to increase its computing power by 50% by 2025. Zhipu is one of several Chinese start-ups supported by tech giants in their efforts to boost the country's AI industry.