Chinese AI company Zhipu AI said it would prioritize artificial general intelligence research over near-term commercialization.

In an internal letter, co-founder Tang Jie said Zhipu would spend the next two years on AGI-related research, including autonomous AI agents and AI safety.

The company’s market capitalization has fallen to about HK$730 billion (US$93 billion) from briefly above HK$1 trillion (US$127 billion) in late June.

The Hong Kong-listed company was formerly Beijing Zhipu Huazhang Technology and sells model services, with products including ChatGLM and AutoGLM.

Rival MiniMax fell 17% to HK$222.8 (US$28), its lowest close since its January debut, after doubling on its first trading day from an IPO price of HK$165 (US$21). The Shanghai Composite dropped 2.06%, while the Shenzhen Composite, ChiNext, and SSE Star 50 each lost more than 3%.

🔗 Source: South China Morning Post

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