Zhipu AI (Z.ai), one of the six Chinese ‘AI Tiger’ companies and creators of open-source General Language Model (GLM) family of LLMs, reached its market cap HK$ 1 Trillion ($USD 128.2 Billion) on Monday morning, as its shares soared by 42%.
Zhipu AI that trades under the name of Knowledge Atlas Technology Joint Stock Co. Ltd at the HongKong Stock Exchange saw its shares reach a high of HK$2980 by 9:44 am HKT, even as its market open price was set at HK$2100.
At the time of publishing of this report, Zhipu AI shares were trading at HK$2476. Zhipu’s total market capitalisation topped HK$1 trillion (US$128B) at Monday’s intraday peak, though its Hong Kong-listed H-shares alone were valued around HK$554B.
The surge in price of Zhipu AI shares comes a week after the launch of its open-source GLM-5.2 model with a 1 million token-context window, placing it right next to its competitors in the west including ChatGPT and Anthropic. Its former model GLM-5.1 had a 200K token-context window.
Zhipu AI was founded in 2019 from Tsinghua University in Beijing and later incorporated as a separate company. In 2023, the company launched 100-billion-parameter ChatGLM.
On January 8, Zhipu AI under the name of Knowledge Atlas Technology got listed on HongKong Stock Exchange and became the first Chinese AI company to get an IPO.
The AI company claims it intends to achieve artificial general intelligence (AGI) with the mission of ‘Teach machines to think like humans, benefit humanity with reliable AI’.
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