The first of China’s 'AI tigers' goes public as Zhipu climbs in Hong Kong debut
CNBC • • business
Key Points:
- Knowledge Atlas Technology JSC (Zhipu) debuted on the Hong Kong stock market with a $558 million IPO, marking it as the first major Chinese large language model company to go public.
- The stock rose up to 15% above its offer price, valuing the company at approximately HK$4.3 billion, one of the largest AI IPOs in recent years.
- Founded in 2019 by top Chinese university researchers, Zhipu is part of China's "AI tigers," aiming to compete with global AI leaders like OpenAI and Anthropic.
- Despite U.S. sanctions and restrictions linked to its alleged military ties, Zhipu continues to expand internationally with offices and innovation centers across Asia and the