Odaily Planet Daily reports: During a conference call with analysts and investors, Zhipu (02513.HK) stated that it has just completed a $5 billion refinancing transaction using a "small equity, large debt" structure, driven by the need to expand computing power. Following the release of GLM-5 in February, demand for model inference surged tenfold, nearly exhausting the company’s computing capacity within the same week—forcing it to temporarily halt sales of its flagship product, Coding Plan.
In response, Zhipu actively addressed the situation, completing a $4 billion refinancing in July and making a significant investment in computing power expansion; after raising another $5 billion on September 11, Zhipu further strengthened its computing power strategy. Following this expansion, Zhipu’s computing power has reached a substantial scale, capable of supporting the company’s rapid business growth and ongoing development of larger models. (Jinshi)