Zhipu AI plans multi-billion dollar secondary listing in Hong Kong; stock has surged ~2000% since January 2026 IPO, with lockup period ending July 8.

Zhipu AI, a Chinese artificial intelligence model company, is reportedly exploring a secondary listing in Hong Kong to raise billions of dollars. According to sources familiar with the matter, the company is in discussions with advisors about a potential share offering that could occur as early as next month.

Zhipu's stock has experienced extraordinary gains since its January 2026 initial public offering, surging approximately 2000% in value. The company's six-month lockup period is set to expire on July 8, a timing that may influence the decision to pursue additional capital markets activity.

The potential Hong Kong listing reflects strong investor appetite for Chinese AI infrastructure and model companies. However, the deal remains in discussion stages and may not proceed, according to those briefed on the conversations.