Zhipu AI shares spiked in early trading on June 15, reaching a high of HK$1,620 — a 47.68% surge from the previous close. Profit-taking quickly kicked in, sending the stock into a rapid retreat. By midday, shares had stabilized at HK$1,404, with gains narrowing to 27.99% and a total market cap of HK$625.9 billion.
The move was driven by news that the company fully opened its flagship large model GLM-5.2 on Saturday.