Zhipu Jumps 33% to HK$1,461 as Banks Back AI Demand After Anthropic Curbs
Updated
Updated · CNBC · Jun 15
Zhipu Jumps 33% to HK$1,461 as Banks Back AI Demand After Anthropic Curbs
2 articles · Updated · CNBC · Jun 15
Summary
Zhipu shares were last up 33% at about HK$1,461 on Monday, valuing the Chinese AI developer at HK$489 billion after an intraday surge of as much as 48%.
JPMorgan kept an overweight rating and lifted its target to HK$1,400 from HK$950, while Bank of America started coverage with a buy, arguing Zhipu can capture global demand in a value-for-money AI segment.
That bullishness followed Washington's order for Anthropic to suspend access to its top Fable 5 and Mythos 5 models for all foreign nationals, and Zhipu's weekend pledge to open-source GLM-5.2 this week without usage restrictions.
Zhipu has already raised cloud API prices 8% to 17% this year as demand climbs, and some investors now see U.S. restrictions risking talent drift toward Chinese firms such as Zhipu, DeepSeek and Moonshot AI.