China's GLM maker raised $5 billion for its next model.
Zhipu, the Chinese lab behind the open GLM models, closed about $5 billion in new funding. Roughly 60% goes to the next GLM model and the machines to train it. It is the company's third raise since it listed in Hong Kong in January.
Why it mattersGLM models are free to download and run, so this money shapes tools you can use without paying. It also shows how much Chinese labs now raise publicly just to keep buying compute.
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