Z.ai has announced the completion of a combined financing round worth around US$5 billion, including about US$2 billion from a share placement and roughly US$3 billion through convertible bonds.
The company plans to use the funds for next-generation GLM foundation models, a fully self-training system, large-scale training and inference, computing resources and infrastructure upgrades. The plan also covers automated training-data generation and filtering, task environments, long-range reasoning, domestic-chip adaptation and inference optimization. [21Jingji, in Chinese]