Zhipu AI has launched a share placement to raise a significant amount of capital, with reported values ranging from over HK$31.5 billion to up to HK$33.6 billion. The placement is being made at a discount, with one reported price being HK$1,588 per share. The move follows a surge in Zhipu AI's stock price on its lock-up expiration date, with the company's shares rising nearly 13% instead of declining.