智谱面向开发者的API订阅业务，ARR过亿

Core Insights - The company, Zhipu, has achieved an annual recurring revenue (ARR) exceeding 100 million RMB (approximately 14 million USD) from its software tools and models for developers (GLM coding plan) [1] - Zhipu is diversifying its revenue structure by shifting from government and enterprise clients to developers, with a goal to increase the revenue share from its API business to 50% [1] - The API platform currently serves over 2.7 million paying customers, including some of China's largest tech companies [1] Product Offering - In September, Zhipu launched an AI-driven coding tool subscription plan, priced as low as 20 RMB per month, which is about one-seventh of the price of Anthropic's Claude [2] - The coding tool plan has attracted over 150,000 users [2] Market Demand - Concerns regarding excessive investment in AI without clear profit pathways are acknowledged; however, the CEO stated that the Chinese market is still in a phase where the demand for high-quality AI services exceeds supply [3] - A critical and urgent issue is to find sufficient reasoning resources to meet the surging demand [3]