Saudi Aramco’s Prosperity7 fund has participated in $400M investment round for China’s Zhipu AI. This investment occurs amid challenges for China’s AI sector in securing foreign funding due to U.S. restrictions. Zhipu AI, a top AI company in China, previously depended on government support and Chinese cloud service providers.
Prosperity7’s investment highlights growing tech collaboration between Saudi Arabia and China. Recently, Lenovo announced a $2 billion convertible bond sale to Saudi Arabia’s Public Investment Fund. The investment in Zhipu AI aims to advance its technology, boost its international reach, and strengthen Saudi-Chinese tech cooperation.
“We believe that Zhipu AI has the potential to become a global leader in generative artificial intelligence. We are excited to partner with them to support their growth and international expansion,” said a spokesman for Prosperity7.
