Zhipu AI, operating as Knowledge Atlas Tech Joint Stock (HK:2513), saw a significant share-price move on Wednesday after the company raised prices for access to its most advanced AI model.
In Hong Kong trade, Zhipu shares rose 16.2% to HK$904.50, outpacing the Hang Seng index, which gained 3% on the day.
Earlier in the week, Zhipu introduced GLM-5.1. According to a Bloomberg report that cited data from OpenRouter, the company is charging at least 8% more for access to GLM-5.1, with increases up to 17% relative to its older GLM5-Turbo models. This marks the second price increase Zhipu has enacted since listing on Hong Kong markets at the start of the year.
The stock had already been on an extended rally heading into the latest move. Zhipu shares hit a series of record highs over the past week after the company disclosed that it more than doubled revenue in 2025, attributing the growth to strong domestic demand.
Market participants consider Zhipu among the most advanced Chinese AI developers and group it within the cohort known as the country’s so-called "AI tigers" - startups leading China’s AI development efforts.
Peer MiniMax Group Inc (HK:0100) also participated in the broader advance in technology shares, rising 5.6% on the same session.
Both companies have delivered outsized returns so far in 2026: Zhipu shares are up nearly 600% year-to-date, while Minimax shares have climbed almost 200%, gains that the market has tied to heightened optimism about China’s AI capabilities.
Market context and investor reaction
The latest price adjustment for GLM-5.1, coupled with Zhipu’s reported revenue growth for 2025, appears to have reinforced investor confidence in the company’s commercial traction and pricing power for advanced models. The move coincided with positive returns across regional tech names, with MiniMax tracking the sector’s gains.
What remains clear from available information
- Zhipu has launched a new model, GLM-5.1, and raised access prices compared with older offerings.
- This price change is the second since the company listed earlier this year.
- Both Zhipu and MiniMax have recorded substantial year-to-date share-price gains in 2026.