Zhipu shares surge 37% as firm builds giant data centre powered by Chinese chips

Shares of Chinese AI giant Z.ai soared 37 per cent in Hong Kong on Tuesday to close at HK$1,219 (US$155), after the company recently completed a giant data centre powered entirely by Chinese chips. Also known as Zhipu, the firm’s share prices rebounded after a week-long drop of more than 40 per cent. According to people familiar with the matter, it had built a giant 1-gigawatt (GW) AI computing centre – a facility that will be used to train and deploy its GLM models. The company has positioned...