alt Hacker News>The “but they’re losing money” argument never seems to be brought out against competitors that literally give away their models for free and for which we can calculate the cost of serving 400B-1T parameter open weight models.
To be fair people aren't exactly bullish on the prospects of deepseek or z.ai either, it's just they're below radar so they don't get mentioned.
Z.ai is at least owned by a public company, so there might be something in the financials.
https://en.wikipedia.org/wiki/Z.ai
>> "On 8 January 2026, Z.ai held its initial public offering on the Hong Kong Stock Exchange to become a listed company.[24][25][26] It is considered to be China's first major LLM company that went through an IPO.[26] In February 2026, JPMorgan Chase recommended to investors of purchasing stocks of the company alongside MiniMax.[27]"
https://www.zhipuai.cn/investor_relations/
But I haven't looked into it.