Zhipu CEO Zhang Peng
TMTPOST — Beijing-based Zhipu AI has officially entered the IPO pipeline, becoming the first among China’s “Big Model Six Tigers” to begin listing preparations, according to a regulatory filing published by the China Securities Regulatory Commission (CSRC) on Monday.
The company, which evolved from Tsinghua University’s computer science department and is known for its ChatGLM and GLM large models, is being counseled by China International Capital Corporation (CICC).
The listing process began with internal preparations in April, with formal counseling expected to run from August to October this year. This timeline suggests a potential IPO filing with the Shanghai or Hong Kong Stock Exchange by the end of 2025.
Zhipu’s listing attempt signals the beginning of a high-stakes race between U.S. and Chinese AI giants to tap public markets and secure long-term financing for AI model scaling.
Founded in 2019, Zhipu has raised over 16 billion yuan (around $2.2 billion), attracting major backers including Hillhouse, Qiming Venture Partners, and tech giants like Alibaba, Tencent, and Xiaomi. Its product line has rapidly evolved from early GLM models to today’s GLM-4 series, featuring the just-released GLM-4-32B-0414, now China’s fastest open-source inference model at 200 tokens per second.
Zhipu’s open-source ChatGLM series has been downloaded over 30 million times globally, with 150,000+ GitHub stars. The Qingyan AI assistant app has over 25 million users and strong commercial adoption across sectors, from finance to automotive.返回搜狐，查看更多
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