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Zhipu shares surge 37% as firm builds giant data centre powered by Chinese chips

The Chinese AI firm’s stock price has rebounded amid reports it has completed a 1-gigawatt computing centre using only domestic chips

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China’s AI boom has sharply increased electricity demand and is pushing domestic firms to find ways to solve the sector’s power problem. Photo: Shutterstock
Minxiao Changin Shenzhen
Shares of Chinese AI giant Z.ai soared 37 per cent in Hong Kong on Tuesday to close at HK$1,219 (US$155), after the company recently completed a giant data centre powered entirely by Chinese chips.
Also known as Zhipu, the firm’s share prices rebounded after a week-long drop of more than 40 per cent. According to people familiar with the matter, it had built a giant 1-gigawatt (GW) AI computing centre – a facility that will be used to train and deploy its GLM models. The company has positioned its flagship GLM-5.2 as one of China’s leading large language models (LLMs).

Meanwhile, the Beijing-based company had also completed the acquisition of Chinese infrastructure software developer XCore Sigma, a company spun off from the Chinese Academy of Sciences, the interviewees said.

XCore Sigma focuses on heterogeneous computing software, including compilers, runtime systems and inference engines that help improve the utilisation of AI chips from different vendors, reduce inference costs and accelerate model deployment.

Z.ai did not immediately respond to a request for comment on Tuesday.

The move, together with the new data centre, is set to address computing power constraints and improve AI inference efficiency for Z.ai.

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