convertible bonds
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Z.ai Shares Plunge 10% After Second Major Funding Round in Two Months
Zhipu AI’s shares fell over 10% following plans to raise $5 billion through share placement and convertible bonds. This marks their second major fundraising in two months, aiming to accelerate AI model development and infrastructure expansion. The company previously gained attention for launching an AI model running on domestic chips. Rival MiniMax also saw a stock dip, suggesting sector-wide reassessment.
