China’s Zhipu AI Launches Free AI Agent, Intensifying Domestic Tech Race

Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. (Reuters)
Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. (Reuters)
TT
20

China’s Zhipu AI Launches Free AI Agent, Intensifying Domestic Tech Race

Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. (Reuters)
Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. (Reuters)

Chinese artificial intelligence startup Zhipu AI unveiled a free AI agent on Monday, joining a wave of similar launches in China's increasingly competitive AI market.

The product, called AutoGLM Rumination, can perform deep research as well as tasks including web searches, travel planning, and research report writing, CEO Zhang Peng said at a lunch event in Beijing.

The agent is powered by Zhipu's proprietary models, including its reasoning model GLM-Z1-Air and foundation model GLM-4-Air-0414. The company claims GLM-Z1-Air matches rival DeepSeek's R1 in performance while running up to eight times faster and requiring only one-thirtieth of the computing resources.

AI agents are systems designed to make decisions and execute a range of tasks autonomously.

The launch follows a surge in Chinese AI product releases after DeepSeek shook the industry earlier this year with a model that it said operated at substantially lower costs than US rivals.

It also comes weeks after competitor Manus sparked interest with what it marketed as the world's first general AI agent.

While Manus charges users up to $199 monthly, Zhipu's AutoGLM Rumination will be available free of charge through the company's official channels, including its GLM model website and mobile app.

Zhipu AI, founded in 2019 as a spinoff from a Tsinghua University laboratory, has emerged as one of China's leading AI startups.

The company, which developed the GLM series of models, claims its latest large language model GLM4 outperforms OpenAI's GPT-4 on several benchmarks.

The startup made headlines earlier this month after securing three consecutive rounds of government-backed funding in a single month. The most recent investment came from the city of Chengdu, which injected 300 million yuan ($41.5 million) into the company.



EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
TT
20

EIB to Allot 70 Bln Euros for Tech Sector in 2025-2027

FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo
FILE PHOTO: The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File Photo

The European Investment Bank is likely to announce on Friday plans to pump 70 billion euros into the development of European technology firms over the next three years, EU officials said.

The program, called Tech EU, is meant to help Europe compete with China and the United States in the race for innovative clean and digital technologies.

The EIB, the biggest multilateral lender in the world with a balance sheet total of 556 billion euros, expects its own 70 bln euros to mobilize a further 250 billion euros of private cash as investors crowd into projects supported by the EIB, Reuters quoted EU officials as saying.

The 70 billion is to be split into 20 billion euros for equity and quasi-equity, 40 billion euros for loans and 10 billion for guarantees in 2025-2027, the officials said.

The plan is to complement European Commission efforts to support higher risk ventures and innovative companies throughout their investment journey, from proof of concept to an initial public offering.

The EIB wants to focus on supercomputing, artificial intelligence, digital infrastructure, critical raw materials, green industries such as offshore wind, health, security and defense technologies, robotics and advanced materials, the officials said.