Shanghai launches citywide AI computing platform

Shanghai has unveiled a city-level artificial intelligence computing resource platform, designed to democratize access to AI resources for the public, particularly small and medium-sized enterprises (SMEs). The initiative aims to accelerate the AI digital economy, foster innovation, and align with the city's strategic development blueprint.

Earlier this week, the Shanghai Commission of Economy and Informatization announced its goal for the city's AI cloud industry to generate 200 billion yuan (US$27.4 billion) in revenue by 2027. This underscores Shanghai's commitment to establishing AI as a core infrastructure and solidifies its position as a national leader in AI infrastructure and applications.

"Shanghai will provide high-quality services to realize our city's strategic development, meet the diversified needs of different industries and enterprises, and create an open and shared asset ecosystem," said Zhang Ying, the commission's director, at the platform's launch.

The Shanghai AI Resource Coordination and Scheduling Service Platform, operated by Shanghai INESA, consolidates AI resources from major tech giants, such as SenseTime serving as a major supplier. The city-wide platform optimizes the distribution of computing resources across regions and borders, encouraging smart computing cloud enterprises to join and reducing AI usage costs for businesses.

In a parallel move, Shanghai launched a novel financial product, "AI Capacity Loans," offering credit lines and loans to companies involved in AI infrastructure. SenseTime, UCloud, and Shanghai @Hub Corp were among the first recipients, securing a combined credit line of 1 billion yuan from the Bank of Jiangsu.

Recognizing the AI industry's substantial hardware investment, high R&D thresholds, and diverse application scenarios, the Bank of Jiangsu is providing customized financing solutions through a specialized approval model to address the unique financial needs of these companies.