China AI App Zhipu Plans Shanghai Float After Soaring 320% in HK

Chinese artificial-intelligence model developer Zhipu is planning a second listing in Shanghai following its recent $558 million initial public offering in Hong Kong, a sign of confidence that the country’s generative-AI rally still has legs.

The company formally known as Knowledge Atlas JSC Ltd. has hired Guotai Haitong and CICC to advise its listing on Shanghai’s Star Market, according to a document filed Wednesday. Its stock jumped as much as 23.4% on Friday to a record HK$496, extending its gain since its Jan. 8 debut to about 320%.