Core Viewpoint - The stock of Zhiyu, known as the "first stock of large models," surged over 40% amid significant positive developments and a collective explosion in China's AI industry before the Spring Festival [1] Company Developments - Zhiyu's stock price reached a high of 443 HKD, with a market capitalization of 192.4 billion HKD, reflecting a 38.16% increase [1] - The company announced a structural price increase of at least 30% for its core GLM Coding Plan service, effective immediately, while maintaining prices for existing subscribers [2][3] - The price adjustment is attributed to strong market demand and increased operational costs due to high concurrency requirements, indicating strong user retention and pricing power [2][3] Product Launch - Zhiyu launched its new flagship model, GLM-5, featuring significant architectural innovations and a total parameter count of 745 billion, double that of its predecessor GLM-4.7 [3] - GLM-5 boasts a 96.2% pass rate on HumanEval coding tests and supports advanced programming capabilities, including cross-file code refactoring and rapid full-stack application generation [3] - The model has shown exceptional performance in high-precision scenarios and has gained significant market recognition, with user traffic increasing tenfold shortly after its launch [3] Industry Context - Zhiyu's performance reflects a broader trend in the Chinese AI industry, which is experiencing rapid updates and breakthroughs as major tech companies ramp up their AI initiatives ahead of the Spring Festival [4] - Competitors like ByteDance and Alibaba are also launching new AI models, contributing to a competitive landscape with diverse applications and commercial opportunities [4] - The AI sector is witnessing an acceleration from research to practical applications, with various products entering the market, indicating a robust growth trajectory [4]
智谱午后狂飙40%！GLM-5引爆行情，春节前AI行业迎爆发式突围