Today, Zhipu's market capitalization broke through 500 billion

The investment community learned today (May 13) that Zhipu...Closing increase exceeding 35%, with a latest market capitalization surpassing 500 billion Hong Kong dollars and a trading volume reaching 3.5 billion Hong Kong dollars.

Such ferocity is astonishing.

In terms of news, yesterday the global authoritative evaluation agency Artificial Analysis released a new Coding Agent benchmark to measure the performance of orchestrations of agents and models on mainstream benchmarks like SWE-Bench-Pro-Hard-AA, Terminal-Benchv2, and SWE-Atlas-QnA.

Among them, Zhipu GLM-5.1 ranked first in open-source performance when run on ClaudeCode. The evaluation results indicate that GLM-5.1 represents the State-of-the-Art (SOTA) capability of domestic large-scale models in practical programming agent scenarios.

Going back to January this year, Zhipu was listed on the Hong Kong Stock Exchange, earning the title of 'the world's first large-scale model stock.' On its debut, the company’s market value surpassed 55 billion Hong Kong dollars, delivering substantial returns to investors.

Soon after, stunning developments followed one after another: First, Zhipu announced at the start of the year a strategic partnership with Didi to explore AGI technology and intelligent applications in the mobility sector, causing the company's stock price to soar over 30% on the same day. Later, an announcement of a jointly open-sourced next-generation image generation model, GLM-Image, with Huawei triggered another wave of significant increases.

After several rounds of sharp rallies, Zhipu's share price has risen about tenfold since its IPO.

These soaring stock prices will directly translate into tangible wealth for employees. Half of Zhipu’s staff own company shares, with a rough estimate putting the average individual shareholding value at over HKD 10 million, even creating several billionaires.

As netizens summarized: 'Overnight, another group of people in Haidian achieved financial freedom.'

Looking back seven years ago, a group of Tsinghua scientists stepped out of the lab to establish Zhipu, which quickly became one of China's largest independent large model manufacturers. This company, firmly positioned in the top tier of domestic large models, has already become a major industry benchmark.

On February 12 this year, Zhipu officially announced the release and open-sourcing of GLM-5: achieving state-of-the-art open-source performance in coding and agent capabilities, with real-world programming usability approaching Claude Opus 4.5, excelling in complex systems engineering and long-term agent tasks. On the day of the model's release, the stock price surged nearly 30%.

Not long ago, Zhipu released its first earnings report post-IPO, showing full-year revenue of 724 million RMB for 2025, a year-on-year increase of 131.9%, making it the largest revenue-generating large model company domestically. After the API price hike, usage volume not only didn’t drop but increased instead, almost every figure defying industry stereotypes.

This May, the AI circle remains as bustling as ever.

A few days ago, the large model sector saw a flurry of significant announcements: Dark Side of the Moon completed approximately USD 2 billion in new funding, with a post-money valuation surpassing USD 20 billion; Step Stars is nearing completion of nearly USD 2.5 billion in financing while announcing the dismantling of its red chip structure. Additionally, DeepSeek's valuation rumors continue to climb, now reaching USD 50 billion.

Some are rushing for an IPO, others are pulling in strategic investments, with goals surprisingly aligned:Secure the final round of heavy funding in this arms race.。

The热潮 is surging, and there isn't much time left for everyone.

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