Zhipu AI has formally embarked on its Initial Public Offering (IPO) process, partnering with China International Capital Corporation Limited (CICC) as the lead underwriter. As a prominent member of the esteemed 'Big Six Dragons' of large AI models, Zhipu AI has, since its inception in 2019, leveraged Tsinghua University's rich technological heritage to concentrate on the research, development, and deployment of advanced large models. Its GLM series, MaaS platform, and consumer-end products have all achieved remarkable success, with commercial revenue soaring by over 100% in 2024. The company has successfully concluded 12 funding rounds, attaining a valuation in excess of 20 billion yuan. Looking ahead, Zhipu AI intends to unveil a new open-source large model in 2025, and the IPO process is poised to propel it to an even more prominent position within the global AI landscape.