← Back to live feed1 story
Z.ai shares ended Monday trading in Hong Kong down 8% at HK$729 after a volatile session. The stock dropped by as much as 10.5% earlier in the day following the launch of a discounted share placement, which placed fresh pressure on the company's equity valuation.
The share issuance is part of a $5 billion fundraise that includes $3 billion in convertible bonds to develop next-generation GLM AI models. Z.ai is allocating 60% of the net proceeds to a "Fully Self Training" system for recursive self-improvement, while 15% is designated for strategic investments and 25% for operating capital.
Sign in to suggest edits
Key sources
- SOURCE@firstsquawk“shares plunge as much as 10.5% in Hong Kong after the company launches a discounted share placement, putting fresh pressure on the stock”x.com
- SUPPORT@financialjuice“Hong Kong-listed shares... drop as much as 10.5% after discounted share placement”x.com
- SUPPORT@zerohedge“Dropped Over 10% in Hong Kong Before Paring Losses; Last Down 8% at HK$729”x.com
- SOURCE@maxforai“募集资金净额约60%将用于下一代GLM基础模型、完全自训练体系，以及大规模训练、生产推理、算力资源和相关技术基础设施”x.com
- SUPPORT@choblin29“each generation of GLM to build the environments used to train the next one, forming what the company itself calls a Recursive Self-Improvement (RSI) loop”x.com
- SUPPORT@tphuang“part of that will be used in increasing integration w/ domestic compute”x.com
- SOURCEmarketbrief.now