Justin Sun: Li Lin Once Concealed Due Diligence Materials, I Lent the Company $30 Million to Fill the Gap

Zhipu has released its first semi-annual report since going public, revealing that its annual recurring revenue (ARR) reached $1.6 billion in August.

According to Reuters, a US military official said that US forces did not target Kharkiv Island in last night's airstrike.

According to Lookonchain's monitoring, the associated wallet of market maker Cumberland withdrew 15,390 ETH (valued at approximately $37.66 million) from Binance one hour ago.

Cryptocurrencies will not be included in the tax-advantaged savings accounts Ireland plans to roll out for every adult nationwide. Ireland’s Tánaiste and Minister for Finance Simon Harris released a video outlining the plan’s framework, stating he hopes these accounts “will truly play a role in strengthening personal economic resilience.” Account holders will be able to hold stocks, bonds, mutual funds, exchange-traded funds (ETFs), and insurance products. Crypto assets are excluded, as are derivatives and interest-bearing cash. Every Irish tax resident aged 18 and above is eligible to open such an account. Contributions within the tax-free allowance will be fully exempt from tax, while amounts exceeding the limit will be taxed at a low flat annual rate. The plan has no minimum contribution requirement or minimum lock-up period, though an annual contribution cap will be set. The exact tax-free allowance and tax rate will be announced on Budget Day, October 6, with the accounts expected to open next year.

Beating AI Express: Zhipu AI has released its first semi-annual report since listing. First-half revenue reached 954 million yuan, up 399.7% year-on-year, nearly five times the level of the same period last year. Growth was mainly driven by its open platform and API business: revenue in this segment surged from 29.1 million yuan to 825 million yuan, a year-on-year jump of 2735.7%, accounting for 86.5% of total revenue. Zhipu’s revenue structure has almost reversed: the open platform and API business (charged per call) rose from 26.3% of total revenue in the whole of last year to 86.5% this period, while localized deployment dropped from 73.7% to 13.5%. The gross profit margin of its API business also improved from -0.4% in the same period last year to 24.6%, with Zhipu citing expanded call volume, price adjustments, and lower inference costs as key reasons. However, R&D investment and losses remain high: first-half R&D expenditure hit 2.131 billion yuan, up 33.6% year-on-year; adjusted net loss stood at 1.964 billion yuan, expanding 12.1% from 1.752 billion yuan in the same period last year. Meanwhile, overall gross margin fell from 50.0% to 26.4%, mainly due to the rapid shift in revenue toward cloud-based business that is still in its growth phase.

The European Commission said Monday that OpenAI’s ChatGPT will have to comply with stricter EU rules, such as removing illegal content, or face potential fines. Meanwhile, Brussels is working to clarify how its existing digital regulatory framework applies to rapidly evolving artificial intelligence services. The Commission noted that ChatGPT, social media forum Reddit, and gaming platform Roblox will be classified as so-called “very large online platforms” (VLOPs) under the EU’s Digital Services Act (DSA), the bloc’s landmark digital regulatory regime. This designation means the three services will bear additional obligations, including removing illegal content and protecting minors’ privacy and safety; non-compliance could lead to fines of up to 6% of their global revenue. The decision marks a further expansion of DSA oversight into the generative AI sector. Earlier, X’s AI chatbot Grok was already under investigation under the same law.