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Chinese artificial intelligence company Zhipu AI, listed in Hong Kong as Knowledge Atlas Tech Joint Stock (HK:2513), has raised approximately HK$31.37 billion (US$4 billion) through a discounted share sale, strengthening its financial position as competition in the AI industry intensifies.
The company announced on Thursday that it sold 19.78 million shares at HK$1,588 each, representing a discount of nearly 13% from Wednesday’s closing price. The fundraising marks Zhipu AI’s first major equity issuance since its Hong Kong stock market debut earlier this year.
According to the company, the fresh capital will primarily support its long-term artificial intelligence strategy, with a strong focus on advancing foundation model research and development. Zhipu AI also said the proceeds will reinforce its capital base as it continues expanding its presence in China’s rapidly growing AI market.
The company revealed that more than 93% of the net proceeds from its initial public offering had already been utilized as of June 30, making the latest fundraising an important step in financing future innovation and business growth.
Zhipu AI has emerged as one of the strongest-performing AI stocks in Hong Kong in 2026. Since its IPO in January, the company's shares have surged nearly 1,300%, fueled by rising investor confidence in China’s artificial intelligence sector and increasing demand for advanced AI technologies.
The company is widely recognized as one of China’s leading developers of large AI models, benefiting from strong market enthusiasm surrounding domestic AI innovation. Investors have increasingly backed Chinese AI firms as they compete with global rivals in developing next-generation generative AI and enterprise AI solutions.
The successful HK$31.37 billion share placement highlights continued investor appetite for high-growth AI companies despite the discounted pricing. With additional funding now secured, Zhipu AI is positioned to accelerate research, strengthen its competitive edge, and capitalize on expanding opportunities in the global artificial intelligence industry as demand for advanced AI models continues to rise.
