Chinese AI startup Zhipu plans to release its latest open-source model, GLM-4.5, as early as July 28, according to a source familiar with the situation.

The update to its flagship model aims to enhance Zhipu’s competitive position in the global AI market.

The company, now known as Z.ai in English, has not publicly commented on this development.

Zhipu is among several Chinese AI firms, including Moonshot and StepFun, that have recently introduced open-source AI models.

Moonshot launched its Kimi K2 model, while StepFun released a non-proprietary version of its latest reasoning model.

In addition, Zhipu is reportedly considering moving its planned initial public offering (IPO) from mainland China to Hong Kong.

Bloomberg reports that the firm, which has backing from Alibaba Group and Tencent Holdings, is working with financial advisers on a potential public offering that could raise approximately US$300 million.

Recent Zhipu developments