# Shanghai STAR Market

China’s Zhipu AI Soars After GLM‑5 Open‑Source Push — But Profits Remain Distant

Zhipu AI’s shares surged after open‑sourcing its GLM‑5 foundation model and hiking prices for an AI coding subscription, boosting investor optimism about product traction. Yet the company continues to incur large losses driven by heavy R&D and compute costs, and is pursuing a mainland Shanghai listing to broaden its capital base.