Zhipu shares surge 37% as firm builds giant data centre powered by Chinese chips

Shares of Chinese AI giant Z.ai soared 37 per cent in Hong Kong on Tuesday to close at HK$1,219 (US$155), after the company recently completed a giant data centre powered entirely by Chinese chips.Also known as Zhipu, the firm’s share prices rebounded after a week-long drop of more than 40 per cent. According to people familiar with the matter, it had built a giant 1-gigawatt (GW) AI computing centre – a facility that will be used to train and deploy its GLM models. The company has positioned its flagship GLM-5.2 as one of China’s leading Large Language Models (LLMs).Meanwhile, the Beijing-based company had also completed the acquisition of Chinese infrastructure software developer XCore Sigma, a company spun off from the Chinese Academy of Sciences, the interviewees said.