01 World headquarters to be established in Hangzhou Linping District, receiving hundreds of millions of yuan investment from municipal and district-level state-owned assets

01 World announces cooperation with Hangzhou City and Linping District, receiving hundreds of millions of yuan investment from municipal and district-level state-owned assets, with headquarters to be established in Hangzhou Linping District to build an industrial AI transformation base. Company founder and CEO Kai-Fu Lee stated that Hangzhou's greater opportunity in AI lies in industrial AI transformation, and 01 World will deeply integrate into Hangzhou's innovation ecosystem. The company plans to launch its first proprietary model Yi-Large in 2024, and will stop providing online experience and API call services to users in August 2026. Currently, about half of the company's business revenue comes from markets outside of China.