Chinese company Z.ai, formerly known as Zhipu AI, has been officially listed on the Hong Kong Stock Exchange, becoming the first specialized large language model company in the world to go public. This milestone marks a significant achievement for the artificial general intelligence sector in China. Z.ai is part of the portfolio company Qiming Venture Partners, which led an early funding round for the company in 2022 and contributed to the development of the first Chinese 100-billion-parameter language model, known as GLM. The company's shares were priced at HK$19.6 per share before opening at HK$35.7, pushing its market capitalization to approximately HK$85.5 billion.
