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The Economic Times
The Economic Times
Technology

China AI developer Z.AI launches $5 billion Hong Kong share, convertible bond sales, term sheet shows

Hong Kong Zai United States

Beijing-based artificial intelligence company Z.AI Co Ltd has launched a Hong Kong share placement of about $2 billion and a ‌concurrent convertible bond ⁠sale of ⁠about $3 billion, according to term sheets seen by Reuters on Friday.

The fundraising comes as Chinese AI developers seek ​capital for the costly computing infrastructure and talent needed to compete with larger US rivals.

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