[Zhipu: The computing power is beginning to take shape and has been able to support the company's rapid business growth and the continued research and development of larger-scale models] On September 16th, Zhipu said in a telephone conference with analysts and investors on September 16 that the company had just completed a total of US$5 billion in refinancing with a "small stock and big debt" structure. This financing was due to the expansion of computing power. After Zhipu released GLM-5 in February, the demand for model calls surged 10 times. The company's computing power reserves were exhausted almost in the week of the release, and it had to stop selling its main product Coding plan. In response to this, Zhipu responded actively, completing a US$4 billion refinancing in July, and finally made a large-scale layout in terms of computing power expansion. After financing another US$5 billion on September 11, it resolutely expanded its computing power layout. After this expansion, Zhipu's computing power has begun to take shape, and it can already support the company's rapid business growth and the continuous research and development of larger-scale models.