According to a December 31 PANews report citing the South China Morning Post, Zhipu AI, a Chinese artificial intelligence company, has initiated an IPO in Hong Kong, aiming to raise HKD 4.35 billion (approximately USD 560 million). This would make Zhipu AI the first large language model (LLM) developer to be listed in Hong Kong. The offering price is set at HKD 116.2 per share, with an expected listing date of January 8, and a projected valuation of approximately HKD 51.16 billion. Previously, Zhipu AI secured over RMB 8.3 billion in funding, with investors including Meituan, Alibaba, Tencent, and Xiaomi.
Zhipu AI to Raise $560M in Hong Kong IPO, Becomes First LLM Developer to Go Public
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Summary
Zhipu AI, one of the top alternative cryptocurrencies to watch in AI-driven sectors, is set to raise $560 million through an initial public offering (IPO) in Hong Kong. The company plans to list on January 8 at a price of HKD 116.2 per share, with a valuation of HKD 51.16 billion. As the first major large language model developer to go public in Hong Kong, Zhipu AI has previously raised over RMB 8.3 billion in funding from major investors such as Meituan and Alibaba. Market sentiment, as reflected in the fear and greed index, remains cautiously optimistic ahead of the listing.
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