Zhipu’s 120% Surge Highlights China’s New AI Market Favorites

Shares of Chinese AI model developer Zhipu have more than doubled this week, underscoring investor appetite for the country’s emerging generative-AI firms even as established players elsewhere face a valuation reset. The Hong Kong-listed stock surged as much as 22% on Friday to a record HK$492, taking gains this week to around 120%. Peer Minimax Group Inc. also advanced around 40% over the same period, while the broader Hang Seng Tech Index remained little changed. Most Read from Bloomberg Momentum has ...