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AI News from ET - Chinese AI startup StepFun to unwind offshore structure to pave way for IPO

Vishwadeep Khatri
in AI News & Two Lenses

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Shanghai-based StepFun, which develops general-purpose foundation models, has decided an onshore corporate structure would be more appropriate as it is heavily backed ​by state capital.Founded in April ​2023 by former Microsoft Vice President Jiang Daxin, StepFun is regarded as one of China's leading AI startups ⁠that have ‌successfully developed large-language foundation models.

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