Zhipu AI stock surged 48% after open-sourcing GLM-5.2. The Hong Kong-listed stock ended the day up 32.8% at HK$1,457.
Key facts
- Zhipu AI stock surged 48% intraday to HK$1,620.
- GLM-5.2 open-sourced under MIT license.
- US ordered Anthropic to suspend Fable-5 and Mythos-5.
- GLM-5.2 priced at one-tenth of Anthropic's premium tiers.
- Stock closed up 32.8% at HK$1,457.
Shares of Beijing-based Zhipu AI rocketed as much as 48% to HK$1,620 in morning trading on Monday, closing up 32.8% at HK$1,457 According to the SCMP. The surge followed the company's announcement that GLM-5.2, its latest and most powerful large language model, would be open-sourced under the permissive MIT license later this week.
The timing of the release proved strategic. It came shortly after US AI giant Anthropic abruptly suspended access to its flagship models, Fable-5 and Mythos-5, citing an export control directive from the US government based on national security concerns [Per the source]. The US order created a vacuum for users seeking alternatives to top Western models amid high prices and geopolitical maneuvering.
Zhipu and some Chinese peers are positioning to capture users switching from US rivals. GLM-5.2 will be available to all users of Zhipu's new GLM Coding Plan subscription, priced at just a tenth of Anthropic's premium Claude Code and Claude Max tiers. The API went live this week, with the model formally open-sourced under the MIT license [Per the company's announcement].
The Open-Source Advantage
The move echoes a broader trend: Chinese AI firms leveraging open-source distribution to gain market share against US giants facing export restrictions. DeepSeek's earlier open-source release saw similar adoption spikes. By offering GLM-5.2 under MIT license — the most permissive open-source license — Zhipu eliminates barriers for developers and enterprises, particularly those in markets affected by US export controls.
Zhipu's stock surge reflects investor belief that open-source distribution, combined with geopolitical tailwinds, can translate into real revenue growth. The company trades as Knowledge Technology on the Hong Kong Stock Exchange. Zhipu did not disclose GLM-5.2 benchmark scores or training costs in its announcement [Per the source].
Competitive Landscape
Anthropic recently sought $2B at a $30-40B valuation [According to prior reports]. The US export order targeting Fable-5 and Mythos-5 creates an opening for Chinese competitors like Zhipu and Baidu's Ernie to court enterprise customers who previously relied on top-tier US models. Zhipu's pricing — one-tenth of Anthropic's premium tiers — directly targets cost-sensitive developers and startups.
What to watch
Watch for GLM-5.2 adoption metrics — API call volumes and GitHub stars in the first 30 days — and whether Anthropic resumes Fable-5/Mythos-5 access under a revised export framework. Zhipu's Q3 ARR disclosure will reveal if open-source distribution converts to enterprise revenue.
Source: scmp.com
