Zhipu's MaaS platform nears 7 million users with strong ARR growth

Zhipu's MaaS platform now has nearly 7 million registered users, up about 2 million since early July, including 23,000 enterprise clients. Its developer product ZCode reached over a million users within just one month of launch. Zhipu's ARR has grown 15 times this year, and while some investors say it's hit $2 billion, the company denies this, with insiders suggesting the real number is higher. To meet computing demand, Zhipu has deployed over 50,000 domestic AI chips and built a 1GW AI infrastructure. Once seen as lacking in infrastructure expertise, Zhipu is quickly closing the gap with its GLM-5 advantage. Investors believe infrastructure optimization will be a key theme in AI investment, as efficiency becomes crucial when model capabilities converge.