On June 22, Hong Kong stock Zhipu (2513.HK) saw its intraday gains expand to 42.31%, reaching a peak of HKD 2980 per share, setting a new record high with a total market capitalization exceeding HKD 1 trillion. Since its lowest point of HKD 116.1 per share after its listing in January 2026, the stock has surged 2467% this year. Data shows that Zhipu is currently the highest-valued AI company in China, with its market capitalization nearing half of Alibaba's (HKD 1.97 trillion), two times that of Meituan (HKD 435.3 billion), and three times that of JD.com (HKD 299.3 billion). On June 18, Tesla founder Elon Musk responded to a user on social media regarding the timeline for China to reach Fable-level AI, stating, 'Perhaps Q1 (2027).' In response, Tsinghua University professor and Zhipu AI founder Tang Jie replied to Musk, 'It won’t take that long.' Musk seemed undeterred, replying below, 'Looking solely at various benchmark tests, perhaps; but if judged by actual practical value, catching up by Q1 next year would already be quite impressive.' (The Paper)
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Zhipu's Stock Surges 2467% This Year, Musk Predicts Chinese AI to Catch Up by Q1 Next Year
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