Zhipu AI market cap tops HK$1 trillion as shares of GLM-5.2 developer soar

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Jun 22, 2026 #AI, #Code Arena, #HK$, #HKEX, #Hong Kong, #Hong Kong stock, #IPO, #Knowledge Atlas Technology, #market cap, #MiniMax, #Monday, #SCMP Business, #Stock market, #Tang Jie, #x, #Zhipu

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Zhipu AI market cap tops HK$1 trillion as shares of GLM-5.2 developer soar

New model ranks second globally on Code Arena list for front-end web development tasks, trailing only Anthropic flagship Claude Fable 5

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A view of Exchange Square in Central, which houses the headquarters of bourse operator Hong Kong Exchanges and Clearing. Photo: Jelly Tse

Coco Fengin GuangdongPublished: 10:32am, 22 Jun 2026The market capitalisation of Hong Kong-listed artificial intelligence pioneer Zhipu AI surpassed HK$1 trillion (US$128 billion) on Monday, fuelled by investor optimism as the company goes head-to-head with its American rivals.

Shares of Zhipu, which trades under the name Knowledge Atlas Technology, skyrocketed as much as 42 per cent on Monday morning to a peak of HK$2,980.

The surge follows the release of Zhipu’s open-source GLM-5.2 model last week. Featuring a massive 1-million-token context window, the new model ranked second globally as of Monday on the Code Arena list for front-end web development tasks, trailing only Anthropic’s flagship Claude Fable 5.Advertisement

In a recent exchange on social-media platform X, tech billionaire Elon Musk estimated that a Chinese AI model capable of matching Claude Fable 5 would likely arrive in the first quarter of next year. Zhipu founder Tang Jie responded that it “won’t take that long”.

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