TLDR:
- Saudi Aramco’s venture capital arm, Prosperity7, invests $400 million in Chinese AI firm Zhipu AI.
- Prosperity7 has previously divested from a Chinese chip startup under pressure from the US government.
Saudi Aramco-owned Prosperity7 has made a significant investment of $400 million in Zhipu AI, a leading generative artificial intelligence start-up based in China. This move comes as the United States has imposed restrictions on investments in China’s AI sector, making this investment by Prosperity7 particularly noteworthy. Zhipu AI, known for its workforce of over 800 employees in Beijing, offers an “AI-in-a-box” product that enhances data security for businesses. This investment from Prosperity7 marks its second venture into the Chinese AI market, following a previous divestment from a chip startup backed by OpenAI CEO Sam Altman. With China’s AI industry rapidly growing, this strategic investment by Saudi Aramco’s venture capital arm highlights the country’s commitment to fostering innovative technologies globally.
