Zhipu shares jump as Wall Street bets China AI fills the Anthropic gap
Zhipu shares are flying. The Chinese AI lab, listed in Hong Kong as Knowledge Atlas Technology, surged as much as 48 per cent on Monday before closing up about 33 per cent, as Wall Street banks bet that China is the clear winner from Washington’s clampdown on Anthropic.
The trigger was timing. Days after the US government forced Anthropic to pull its most powerful Claude models from all foreign users, Zhipu said it would release GLM-5.2, its newest and most capable model, as open-source software this week, with no usage restrictions. The company framed it pointedly.
“Cutting-edge intelligence should not belong to only a few, nor should it be withdrawn at any time,” it said. “It should be open, available, extensible and built to serve every developer.”
Why Wall Street is buying Zhipu
The analysts moved fast.
JPMorgan kept its overweight rating and lifted its target to HK$1,400 from HK$950,...
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