Zhipu AI Market Cap Surpasses HK$1 Trillion After Shares Surge 42%

Zhipu AI, operating under the name Knowledge Atlas Technology, achieved a market capitalization surpassing HK$1 trillion following a remarkable 42% increase in share prices on Monday morning, peaking at HK$2,980. The GLM-5.2 model developed by the company now holds the second position on the global Code Arena leaderboard for front-end web development, only behind Anthropic's Claude Fable 5. On the social media platform X, Elon Musk predicted that a Chinese AI model comparable to Claude Fable 5 would be launched in the first quarter of next year; however, Zhipu's founder, Tang Jie, indicated that this would occur even earlier.