Chinese artificial intelligence firm Zhipu AI has successfully raised a total of $257 million in a state-backed funding initiative aimed at bolstering domestic AI development. This includes a notable investment of 300 million yuan (approximately $41.5 million) from a government-backed fund in Chengdu, as reported by state media outlet Beijing News. The funding underscores the increasing efforts by Chinese cities to support the growth of the AI sector within the country.