Hangzhou State-owned Assets invested hundreds of millions in Lingyi Technology, with headquarters located in Linping

According to a report by the Science and Technology Innovation Board Daily on October 30, the artificial intelligence company Zero One Everything, founded by Kai-Fu Lee, has reached a cooperation agreement with Hangzhou City and Linping District. The municipal and district-level state-owned assets will jointly invest hundreds of millions in Zero One Everything, with the company's headquarters established in Linping, and it will create an industrial AI transformation base.

The report states that Zero One Everything is currently in the Pre-IPO layout period, having previously set a 2027 IPO target and a performance target of 1.5 billion yuan in orders for 2026. The company's strategy has shifted from developing foundational large models to the industrial AI track, focusing on an AI transformation operating system.