01.AI, founded by Kai-Fu Lee, has attracted investments amounting to hundreds of millions of yuan from state investors in Hangzhou and the Linping district of the city. This agreement was announced on October 30 after being signed two days earlier.
Under the terms of the deal, 01.AI plans to locate its headquarters in Linping and establish a base to assist enterprises in implementing artificial intelligence. These funds are aimed at supporting the company's growing focus on enterprise applications and specialized AI systems for industries.
The company is gradually phasing out consumer-oriented services, shifting towards corporate AI solutions. In September, the public models platform stopped offering trial versions of models and API services. Lee stated that the company is now adapting Chinese open models, such as DeepSeek, Qwen, and GLM, for business clients, with approximately half of its revenue coming from outside China.