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

Chinese artificial intelligence company Z.ai on Monday reported a 400 per cent increase in first-half revenue, driven by explosive growth in its open platform and application programming interface business, which helped narrow total losses despite higher research and development spending. Revenue for the six months ended June 30 rose to 953.89 million yuan (US$142 million). Full-year sales were expected to expand 514 per cent to 4.45 billion yuan, according to consensus estimates from analysts..