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Z.ai (formerly Ziphu AI), developer of GLM large language models, debuts on Hong Kong Stock Exchange at ~$6.8 billion valuation, becoming the world's first publicly listed LLM company. Raised ~$558 million in IPO.
Z.ai, formerly known as Ziphu AI, the developer of the GLM family of large language models (LLMs), made its public market debut on the Hong Kong Stock Exchange, becoming, as investors describe, the world’s first publicly listed large language model company.
The company, which trades under the ticker 02513.HK, priced its shares at HK$116.20 apiece and opened at HK$120.00, giving it a market capitalisation of approximately HK$52.83 billion, or $6.8 billion. With the listing, the company raised
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