Z.ai, Maker of GLMs, Makes $142 Million in Revenue at a $71 Billion Market Value
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Z.ai reported first-half results after going public in Hong Kong, showing revenue growth alongside ongoing losses. Revenue rose about 400% to 953.89 million yuan (about $141.8 million), but it missed analysts’ average 1.35 billion yuan estimate by roughly 29%. The gap and high price-to-sales valuation are tied to competition and the company’s continued capital raising, including a $4 billion share placement, as it presses spending on its AI model lineup.