Zhipu's market cap breaks 1 trillion Hong Kong dollars, GLM-5.2 open-sources and tops benchmarks

During trading today, Chinese AI company Zhipu's Hong Kong-listed stock market cap broke 1 trillion Hong Kong dollars for the first time, up over 2000% this year, with shares rising 35% to a market cap of 1.27 trillion Hong Kong dollars.

Zhipu announced the open-sourcing of its latest model GLM-5.2 on June 17. On Code Arena, a code evaluation platform with millions of global users, GLM-5.2 ranked first among available models.

Tesla CEO Elon Musk predicted Chinese AI models might not reach Anthropic Fable's level until early 2027. Zhipu co-founder and chief scientist Tang Jie responded, saying it won't take that long.