Chinese artificial intelligence firm Z.ai saw its Hong Kong-listed shares climb more than 8% on Thursday, a day after the company unveiled a new AI model it claims runs entirely on domestically produced semiconductors.
The model, called GLM-5.3-Flash, is a low-cost version of Z.ai’s flagship offering and currently ranks 10th on the Artificial Analysis Intelligence Index, ahead of DeepSeek V4 Pro Max, according to the index.
Z.ai said it used 100,000 China-made chips to handle all online requests for GLM-5.3-Flash, including when the model was initially released on Aug. 20 under the code name “Ox Alpha.” The company added that the model ranked first by usage over the past week on the global OpenRouter platform.
CNBC was unable to independently verify Z.ai’s chip claims, and the company declined to specify which manufacturers supplied the chips. Running an AI model requires less computing power than training one, a distinction that matters for assessing the feasibility of the claim.
The announcement comes amid ongoing restrictions that have made it difficult for Nvidia to sell its advanced chips in China, while domestic players like Huawei have accelerated efforts to build alternatives. Counterpoint Senior Research Analyst Ivan Lam said Z.ai is likely using Huawei Ascend chips alongside other suppliers, and he noted a broader trend of Chinese companies collaborating more closely across hardware and software.
“Chinese AI model developers have continued to allocate more resources and investment toward AI servers and computing infrastructure built on domestic chips,” Lam said.
China has pushed to strengthen its domestic semiconductor and AI capabilities as part of a broader drive for tech self-sufficiency, especially after U.S. restrictions limited access to advanced chips. Leading U.S. AI models are also not officially available in China.
In a related development, Z.ai rival MiniMax saw its shares rise about 3% in Hong Kong trading after reporting a 283% surge in revenue for the first half of the year compared with the same period a year earlier. MiniMax’s adjusted net loss more than doubled to $293 million during that time. Its flagship M3 model ranks 18th on the Artificial Analysis Intelligence Index.
Z.ai is scheduled to report its first-half results on Monday. Both companies listed in Hong Kong in January, but their stock performance has diverged sharply: Z.ai shares have soared more than 800% since the IPO, while MiniMax shares have climbed over 80%.
Source: www.cnbc.com — https://www.cnbc.com/2026/08/27/zai-shares-surge-new-ai-model-using-chinese-chips.html
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