China’s Z.ai revenue jumps 400% as total losses narrow on explosive cloud gains

On Monday, Chinese artificial intelligence company Z.ai released its financial report, showing that its revenue in the first half of the year increased by 400% year-on-year. Despite the increase in research and development expenses, the explosive growth of its open platform and application interface business effectively reduced the overall loss. Revenue for the six months ending June 30 reached 953.89 million yuan (approximately 142 million US dollars). Market analysts unanimously expect that Z.ai’s annual sales will increase by 514% to 4.45 billion yuan.