Zhipu AI plans STAR Market IPO offering 2% to 8%
Business
Zhipu AI, one of China's leading AI companies, just announced plans to go public on Shanghai's STAR Market.
It is offering 2% to 8% of its shares (that is between 9.1 and 38.8 million shares), hoping to catch the wave of excitement around tech stocks in China.
Zhipu AI to become Z.AI Co
Alongside the IPO, Zhipu AI plans to rebrand as Z.AI Co to align with its operational needs.
This move comes as Chinese tech IPOs are booming: tech stocks are up 22% this year and companies have already raised $6.7 billion, a huge jump from last year.