Zhipu AI (ZHIPU) perpetual market

Zhipu AI is a Chinese artificial intelligence company that develops large language models and related software. It was founded in 2019 as a spin-off from research at Tsinghua University and is known for its GLM family of models, including the ChatGLM conversational systems, which it offers both as open-source releases and as commercial services for enterprises and developers. The company builds foundation models for text, code and multimodal tasks and provides customized model services and an API platform for business customers. In July 2025 it adopted the international brand Z.ai, and its listed entity was formerly named Knowledge Atlas Technology before changing its name to Z.AI Co. The company listed on the Hong Kong Stock Exchange in January 2026, an offering it described as the first public listing by a large-language-model developer, and it is regarded as one of China's leading AI model makers.