Overview
- The Chinese large-model developer began trading as 02513.HK, opening around HK$120 and valuing the company at roughly HK$528 billion.
- An internal letter from chief scientist Tang Jie, reported by LatePost, indicates the next-generation GLM‑5 model is planned for release soon.
- The company created an X‑Lab to pursue new model architectures, more general reinforcement learning paradigms, and continual learning as it refocuses on core model research.
- Early backer Qiming Venture Partners led Zhipu’s B1 round in 2022 and participated in later financings, support it says helped enable the firm’s first trillion‑parameter GLM work before ChatGPT’s debut.
- Zhipu reports that its GLM‑4.7 leads open‑source and domestic models on benchmarks like CodeArena and the AA Intelligence Index, and says deployments reached 12,000 enterprise customers, over 80 million devices, and more than 45 million developers as of September 30, 2025.