Zhipu AI Market Cap Crosses HK$1 Trillion on GLM-5.2 Momentum
Zhipu AI
Zhipu AI's shares surged up to 42% intraday on June 22, 2026, pushing the Hong Kong-listed company's market capitalisation past HK$1 trillion (approximately US$128 billion) for the first time. The rally was driven by continued investor enthusiasm for GLM-5.2 — the company's 753B-parameter, MIT-licensed open-weight model — and a JPMorgan upgrade raising Zhipu's 2026–2030 revenue forecast by 7–16%. GLM-5.2 ranked second globally on the Code Arena front-end benchmark, behind only Anthropic's Claude Fable 5.
Why it matters
Zhipu AI becoming China's first open-source AI lab to cross a HK$1 trillion valuation signals that open-weight frontier models from Chinese labs now command Western-frontier-tier market credibility.
Importance: 3/5
First Chinese open-source AI lab to cross HK$1T market cap; GLM-5.2 ranked #2 globally on coding benchmark behind only Claude Fable 5