Z.AI raises capital for AI: about $5 billion through shares and bonds

On September 11, Z.AI began raising about $5 billion through shares and convertible bonds. The company offered 21.965 million new H-shares at HK$714 and expects to raise about $2 billion from the placement, plus nearly $3 billion from bonds. The funds are planned for research, computing resources, infrastructure, expansion, and potential acquisitions.