Chinese AI firm Zhipu reported a 60% surge in 2025 net losses to 4.7 billion
yuan, exceeding estimates, while revenue rose to 724.3 million yuan, missing
forecasts. The results, its first since a $558 million Hong Kong IPO, highlight
intense competition with players like Alibaba Group Holding Ltd.. Zhipu provides
cloud AI services and custom solutions, and recently launched its GLM-5 model
supporting domestic chips including Huawei Technologies Co.’s Ascend. It plans a
Star Market listing with China International Capital Corp. and Guotai Haitong.