Key facts
- Zhipu AI shares rose 13% after its post-IPO lockup period expired.
- Cornerstone investors have signaled their intention to keep their holdings.
- The market value of the unlocked shares was approximately HK$41.3 billion.
- The rally indicates investor confidence in China's generative AI developers.
Shares of Chinese artificial intelligence startup Zhipu AI experienced a 13% increase following the expiration of its post-IPO lockup period. This rise defied expectations of potential selling pressure, as a significant portion of its cornerstone investors have indicated their commitment to keeping their shares. The rally highlights investor confidence in leading generative AI developers in China. This development occurs as Hong Kong anticipates approximately HK$240 billion (US$30.6 billion) in newly tradable shares during July, a volume that could potentially strain market liquidity.