China Merchants Securities International: Zhipu (02513.HK) completes approximately US$5 billion strategic financing; maintains "Overweight" rating and target price of HK$1,600

Zhitong Finance APP has learned that China Merchants Securities International issued a research report stating that Zhipu (02513.HK) recently announced the completion of approximately US$5 billion in strategic financing, with the proceeds mainly directed toward research and development of the next-generation GLM foundation model, a fully self-training system, and computing infrastructure. The bank maintains its "Overweight" rating on the company, with a target price of HK$1,600.