# Zhipu AI market cap tops HK$1 trillion as shares of GLM-5.2 developer soar > Source: > Published: 2026-06-22 02:32:00+00:00 Advertisement # Zhipu AI market cap tops HK$1 trillion as shares of GLM-5.2 developer soar New model ranks second globally on Code Arena list for front-end web development tasks, trailing only Anthropic flagship Claude Fable 5 1-MIN READ1-MIN Listen [Coco Feng](/author/coco-feng)in Guangdong The market capitalisation of Hong Kong-listed [artificial intelligence](https://www.scmp.com/topics/artificial-intelligence?module=inline&pgtype=article?module=inline&pgtype=article)pioneer[Zhipu AI](https://www.scmp.com/topics/beijing-zhipu-huazhang-technology?module=inline&pgtype=article?module=inline&pgtype=article)surpassed HK$1 trillion (US$128 billion) on Monday, fuelled by investor optimism as the company goes head-to-head with its American rivals.Shares of Zhipu, which trades under the name Knowledge Atlas Technology, skyrocketed as much as 42 per cent on Monday morning to a peak of HK$2,980. The surge follows the release of Zhipu’s open-source [GLM-5.2 model last week](https://www.scmp.com/tech/tech-trends/article/3357115/zhipu-ais-stock-rockets-after-chinese-firm-makes-glm-52-open-source?module=inline&pgtype=article). Featuring a massive 1-million-token context window, the new model ranked second globally as of Monday on the Code Arena list for front-end web development tasks, trailing only Anthropic’s flagship Claude Fable 5.Advertisement In a recent exchange on social-media platform X, tech billionaire Elon Musk estimated that a Chinese AI model capable of matching Claude Fable 5 would likely arrive in the first quarter of next year. Zhipu founder Tang Jie responded that it “won’t take that long”. *More to follow...* Advertisement Advertisement Select Voice Select Speed 1.00x