Z.ai shares surge 37% after completing 1-gigawatt data centre with Chinese chips

Shares of Chinese AI firm Z.ai, also known as Zhipu, soared 37 percent in Hong Kong on Tuesday, closing at HK$1,219 (US$155). The stock rebound followed a week-long drop of more than 40 percent. According to people familiar with the matter, the company recently completed a giant 1-gigawatt AI computing centre powered entirely by Chinese chips. The facility will be used to train and deploy the company's GLM models, including its flagship GLM-5.2.