Zero One AI Secures Hundreds of Millions in Investment from Hangzhou State-Owned Capital: Shifts from Training Its Own Large Models to Helping Enterprises Profit from AI

Beating AI News Flash: Zero One Everything, founded by Kai-Fu Lee, announced a partnership with Hangzhou City and Linping District on October 28. The municipal and district-level state-owned capital will jointly invest several hundred million yuan, the company's headquarters will be located in Linping, Hangzhou, and an industrial AI transformation base will be built. The two sides plan to carry out AI projects around scenarios such as business operations, production operations, and supply chains.

Zero One Everything was once one of the "six little tigers" of domestic large models, and entered the industry's first tier in its early days with its self-developed Yi series models. But in early 2025, the company adjusted its ultra-large model pre-training team and gradually withdrew from the ultra-large model arms race. In September this year, it also officially stopped model API services for external users.

Now, Zero One Everything mainly develops business decision-making and business management systems for enterprises based on open-source models such as DeepSeek and Qwen, and sends engineers deep into customer sites to complete deployment. Kai-Fu Lee previously disclosed that the company achieved 500 million yuan in orders and 250 million yuan in audited revenue in 2025; in the first five months of 2026, order value has exceeded 1.5 billion yuan.

Zero One Everything also plans to go to Hong Kong for an IPO in 2027. Previously, the company had already set up AI industrial base projects in Neijiang, Sichuan, Wuhan, and other places. This time landing in Hangzhou, in addition to obtaining state-owned capital investment, it can also connect with the actual business needs of local enterprises and find more customers for its AI products.