Zhipu AI Hits HK$1T Market Cap After New Model Launch

Chinese artificial intelligence startup Zhipu AI has reached a record market capitalization of HK$1 trillion. This surge follows the launch of its latest large language model. The company's Hong Kong-listed stock jumped significantly, reaching an intraday peak of HK$2,980 on Monday. It closed the day at HK$2,410. This closing price represents an increase of about 2,400% from its initial public offering price in January. This high valuation shows strong investor interest in the AI model developer, even though the company is not yet profitable. This news highlights the intense demand for AI companies in the current market.