Zhipu raises HK$39.3B nine months post-IPO, betting 60% on recursive self-improvement
量子位 · wechat · 2026-09-14
Zhipu announced a new HK placement plus RMB20.14B zero-coupon convertible bonds, netting HK$39.3B. About 60% funds the next-gen GLM model and its "Fully Self-Training" system — a recursive self-improvement loop covering self-generated data, agent-built environments, and model-optimized infrastructure. This is Zhipu's third raise since its January IPO (116.20 HKD/share), after a July placement at 1,588 HKD; cumulative net proceeds reach HK$75.5B, with a Shanghai STAR Market dual listing hinted.
Related event: Zhipu Raises $5 Billion, Betting 60% on Self-Training GLM(8 posts)→
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