JPMorgan Raises Zhipu Target Price to 2,400 HKD, Up 20%, on $4 Billion Funding Deal

According to JPMorgan Chase, the investment bank raised its target price for Zhipu (02513.HK) to 2,400 Hong Kong dollars, marking a 20% increase and the second upward revision within a week. The previous target price of 2,000 HKD was set just last Tuesday.

JPMorgan attributed the upgrade to the company's $4 billion stock placement, which is expected to alleviate computing power supply constraints and support subsequent model training investments. The bank projects that new inference computing capacity should translate into annual recurring revenue (ARR) growth within 12 months.