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Alibaba-backed Zhipu AI preps IPO, first among China’s top six AI unicorns

Zhipu AI, a leading Chinese AI startup founded in 2019, is preparing for an IPO, making it the first among China's top six AI unicorns. Known for developing advanced models like GLM-130B and tools including ChatGLM, it signed an IPO advisory agreement on March 31, 2025, and will release new models under an open-source framework.

Key points

  • Zhipu AI is a foundational model startup initiated from Tsinghua University in 2019.
  • The company focuses primarily on large language model research and was established in 2020.
  • It co-developed the GLM-130B model, which is a significant bilingual Chinese-English AI model.
  • Zhipu has also launched various AI products such as Qingyan, CodeGeeX, CogVLM, and CogView.
  • The IPO preparations were initiated with an advisory agreement signed on March 31, 2025.
  • Zhipu's model GLM-Z1-32B-0414 is reported to be the fastest in China at a competitive price versus DeepSeek-R1.

Why it matters

  • Zhipu AI's IPO marks a significant milestone in the Chinese tech landscape, indicating the growth and maturation of AI companies in China.
  • The trend of AI startups going public is expected to accelerate by 2025, as competition in the tech industry heats up.
  • The open-source movement in AI continues to grow, allowing more accessibility and innovation within the field.

Zhipu AI's IPO signals a pivotal moment for the Chinese AI sector, showcasing its rapid evolution and the competitive landscape amidst rising innovation and open-source initiatives.