First Chinese AI Company Focused on LLMs Celebrates Successful IPO

First Chinese AI Company Focused on LLMs Celebrates Successful IPO

Ondřej Barták
Ondřej Barták
Entrepreneur and Programmer
12. 1. 2026
3 minutes reading
First Chinese AI Company Focused on LLMs Celebrates Successful IPO

Chinese company Zhipu AI, officially known as Knowledge Atlas Technology, became the world's first company specializing in large language models to go public on January 8, 2026. Its debut on the Hong Kong Stock Exchange attracted enormous investor attention and closed with shares up 13.2% at HK$131.50. During morning trading, the shares even jumped by as much as 15%. The company sold 37.4 million shares at HK$116.20 each, raising a total of US$558 million, equivalent to approximately CZK 12.8 billion.

The company was founded in 2019 by professors from Tsinghua University in Beijing. It focuses on developing large language models, such as the GLM-4 series, which directly compete with systems such as ChatGPT and Claude. Zhipu AI offers its technologies in two forms: on-premise solutions, where customers run the models on their own infrastructure, and cloud services for easy access via the internet. These tools are used in smart devices, finance, manufacturing, retail, and healthcare, primarily in the Chinese market. And like most LLMs, they understand Czech.

The Financial Reality Behind the Success

Despite strong investor interest, Zhipu AI faces significant financial challenges. In the first half of 2025, the company reported revenue of 191 million yuan, equivalent to about US$27 million or approximately CZK 621 million. At the same time, however, it recorded a net loss of 2.36 billion yuan, or roughly US$330 million or about CZK 7.6 billion. This loss stems mainly from high research and development costs. According to the prospectus, the company plans to allocate 70% of the proceeds from the listing to the further development of its general-purpose large AI models.

Retail investors showed enormous interest—the offering was oversubscribed 1,159 times. This enthusiasm persisted despite concerns about high valuations in the AI sector. Chairman and co-founder Liu Debing became a billionaire through the IPO (initial public offering), with an estimated net worth of US$2.1 billion, or approximately CZK 48.3 billion, based on his stake in the company.

Zhipu AI faces geopolitical pressures that affect its growth. In January 2025, it was added to the U.S. Department of Commerce's entity list, restricting its access to American semiconductor technology. Last June, OpenAI described it as a rapidly growing rival on the "front line" of China's AI race. Despite this, the company is focusing on expansion beyond China, particularly in Southeast Asia and the Middle East, where it is building partnerships in sovereign AI. It has operations in Indonesia, Vietnam, Malaysia, Singapore, and the United Kingdom.

Zhipu AI's models include GLM-4.7, which ranked among the world's top 20 AI models according to LMArena and is considered the best open-source model by Artificial Analysis, ahead of DeepSeek, OpenAI, and Moonshot AI's Kimi K2. CEO Zheng Peng sees international expansion as a natural evolution for the company. The successful stock market debut provides capital for further growth, while rival MiniMax is preparing for its debut on the same exchange on January 9, aiming to raise up to US$538 million, or approximately CZK 12.4 billion.

LLM performance ranking including GLM-4, ChatGPT, and Claude for comparison
LLM performance ranking including GLM-4, ChatGPT, and Claude for comparison.

Sources: cnbc.com and perplexity.ai

Category:AI
Did you enjoy this article?
Discover more interesting posts on our blog
Back to blog

Related posts

Altman Announced the Singularity Days After His Models Escaped the Lab on Their OwnAltman Announced the Singularity Days After His Models Escaped the Lab on Their Own
OpenAI chief Sam Altman declared on the Relentless podcast that humanity has already entered the singularity. “We’re like, in the singularity now,” he said verbatim. For decades, the term belonged more to science-fiction literature
6 min read
28. 7. 2026
AI Remixed a Madonna Song—and Now It Tops the Charts in Australia. Musicians Are Furious.AI Remixed a Madonna Song—and Now It Tops the Charts in Australia. Musicians Are Furious.
Since April, Australian radio has been playing a dance remake of Madonna’s hit Like a Prayer on repeat. Released by Queensland DJ Josh Fawaz, it tops the radio airplay chart and has 35 million Spotify streams.
6 min read
28. 7. 2026
Claude Opus 5 Built a Shooter from Scratch. What Can Claude of Duty Do?Claude Opus 5 Built a Shooter from Scratch. What Can Claude of Duty Do?
A first-person shooter that runs directly in the browser, with its own physics and eleven separate code modules. Around 55,000 lines in total, split across eleven subsystems and built on Thr
4 min read
28. 7. 2026
Přihlaste se k odběru našeho newsletteru
Zůstaňte informováni o nejnovějších příspěvcích, exkluzivních nabídkách, a aktualizacích.
CodedTrip

Operated by CodedTrip LLC, USA.

YouTube
TikTok