The core employees of z.ai are billionaires, because of the equity given to them in the past, which in their system is not antecedently evaluated. Much of the past annual expenditure of OpenAI has been the same, handing out equity - but because of the different legal system it is given an evaluation and listed as expenditure. Meanwhile the expenditure on compute for training and inference are apples and oranges again as the state is all over this with moonshot and z.ai and so on .