Key facts
- Zhipu AI's market capitalization reached a record HK$1 trillion ($128 billion).
- The surge is attributed to the launch of its latest large language model.
- The company's stock increased by up to 42% intraday on Monday.
- The stock has risen approximately 2,400% since its initial public offering in January.
Chinese artificial intelligence startup Zhipu AI has seen its market value climb to a record HK$1 trillion ($128 billion), driven by investor enthusiasm for its latest large language model. The company's stock experienced a significant surge, jumping as much as 42% intraday to HK$2,980 on Monday before closing at HK$2,410. This closing price represents an approximately 2,400% increase from its initial public offering price in January. The substantial valuation highlights strong investor demand for pure-play AI model developers, despite Zhipu AI remaining unprofitable.