Zhipu weighs multibillion-dollar raise after 2,000% surge

A 2,000% rally has handed Beijing’s Zhipu a rare fundraising window, and Anthropic’s vanished Fable 5 widened it. The harder question is whether a deeply unprofitable lab can turn the moment into a durable business.

Six months ago, Zhipu was a Chinese artificial-intelligence lab fresh off a $558M Hong Kong listing. Its shares priced at HK$116.2. This week they touched HK$2,980.

That is a gain of roughly 2,000% since January. It has pushed the company, now trading as Knowledge Atlas Technology, above HK$1 trillion in market value. That is about $128bn.

Now Zhipu wants to use the moment. The company is weighing a Zhipu share sale to raise several billion US dollars in Hong Kong, people familiar with the matter told Bloomberg. A placement could come as soon as next month. A six-month lock-up from the IPO expires on 8 July. Zhipu also aims to issue shares in Shanghai...

Copyright of this story solely belongs to thenextweb.com. To see the full text click HERE