Zhipu AI, a prominent member of the 'AI Six Tigers,' has initiated its initial public offering (IPO) on December 30, 2025. The company is offering shares at HKD 116.2 each, with a total of 374.195 million shares available, including 5% allocated for public subscription in Hong Kong. The subscription period closes on January 5, 2026, with the listing scheduled for January 8, 2026. The IPO aims to raise up to HKD 4.348 billion, with cornerstone investors already committing HKD 2.984 billion. The funds raised will primarily support the development of AI models, accounting for 70% of the proceeds, while 10% will be directed towards optimizing the company's MaaS platform.