Zhipu AI launches $560 million Hong Kong IPO, potentially becoming the first listed large-scale model company.

PANews reported on December 31 that, according to the South China Morning Post, Chinese artificial intelligence company Zhipu AI has launched its Hong Kong IPO, planning to raise HK$4.35 billion (approximately US$560 million), becoming the first listed large language model (LLM) developer in Hong Kong. The offering price is set at HK$116.2 per share, with listing expected on January 8, valuing the company at approximately HK$51.16 billion. Zhipu previously completed a financing round of over RMB 8.3 billion, with investors including Meituan, Alibaba, Tencent, and Xiaomi.