Zhipu, an artificial intelligence startup supported by Alibaba, is gearing up for an initial public offering (IPO) as soon as this year. The company has enlisted China International Capital Corp. (CICC) to lead the IPO process, with plans to formally apply for listing by October, as per documents filed with China’s stock market regulator.
Zhipu is positioning itself to be among the first of several prominent competitors to ChatGPT to enter the public markets. The startup, established six years ago, has been making significant strides in the AI sector.
The preparation for the IPO debut is underway, with Zhipu and CICC working together to move the process forward. This development comes as the AI industry continues to witness significant growth and investment, with several players vying for market share and investor attention.
Zhipu’s potential listing is being closely watched, given its backing by Alibaba and its competitive stance in the AI landscape, particularly against other ChatGPT rivals. The IPO market has been keen on tech companies, especially those in the AI space, as they show promising growth and innovation.
