Z.ai shares rise after release of AI model running on Chinese chips
Shares of Chinese artificial intelligence company Z.ai, traded on the Hong Kong Stock Exchange, rose by more than 8% on Thursday after the release of the GLM-5.3-Flash model. The company said the model runs exclusively on Chinese-made semiconductors, CNBC Top News reports.
Statement on Chinese chips
Z.ai claims it uses 100,000 China-made chips to process all online requests to GLM-5.3-Flash. According to the company, the model was launched on August 20 under the codename Ox Alpha and was globally available in a non-public mode for a week.
CNBC was unable to independently verify Z.ai's claim regarding the use of Chinese chips. The company declined to disclose which manufacturers' products it uses. The outlet notes that operating an AI model requires fewer computing resources than training it.
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Rankings and market situation
GLM-5.3-Flash is a low-cost version of Z.ai's flagship model. It ranked tenth in the Artificial Analysis Intelligence Index, ahead of DeepSeek V4 Pro Max. Over the past week, the model also became the most used on the global OpenRouter platform.
China is expanding its own capabilities in semiconductor manufacturing and artificial intelligence amid US restrictions on the sale of advanced chips to China. Nvidia faces difficulties selling its products to China due to restrictions from Washington and Beijing, while Huawei and other Chinese companies are developing alternatives.
Shares of Z.ai competitor MiniMax rose by about 3% after it reported a 283% year-on-year increase in revenue in the first half of the year. At the same time, MiniMax's adjusted net loss more than doubled to $293 million. Both companies listed on the Hong Kong Stock Exchange in January: since their IPOs, Z.ai shares have risen by more than 800%, while MiniMax shares have increased by more than 80%.
