Zhipu: Computing power has begun to reach scale, and is now able to support the company's rapid business growth and continued R&D of larger-scale models

Odaily News: Zhipu (02513.HK) stated during a conference call with analysts and investors that the company has just completed a total of $5 billion in refinancing through a "small equity, large debt" structure, and that this financing was driven by the need to expand computing power. After the release of GLM-5 in February, Zhipu saw demand for model API calls surge 10-fold, and the company's computing power reserves were nearly exhausted in the very week of the launch, forcing it to suspend sales of its flagship product, the Coding plan.

In response, Zhipu actively responded by completing $4 billion in refinancing in July, finally making large-scale arrangements for computing power expansion. After raising another $5 billion on September 11, it once again firmly expanded its computing power layout. Following this expansion, Zhipu's computing power has begun to reach scale, and is now able to support the company's rapid business growth and continued R&D of larger-scale models. (Jinshi)