Zhipu AI, a Chinese artificial intelligence firm, is set to raise approximately USD 560 million through an initial public offering (IPO) in Hong Kong. The company plans to list on January 8, with shares priced at HKD 116.2 each, marking it as the first large language model (LLM) developer to go public in the region. The IPO is expected to value Zhipu AI at around HKD 51.16 billion. Zhipu AI has previously attracted significant investment, securing over RMB 8.3 billion from major backers such as Meituan, Alibaba, Tencent, and Xiaomi. This IPO represents a significant milestone for the company and the AI industry in Hong Kong.