Shares soar as recently-listed Zhipu AI and Iluvatar CoreX launch secondary placements

Shares of Chinese artificial intelligence model developer Zhipu AI and chipmaker Iluvatar CoreX Semiconductor surged on Thursday after the tech companies launched separate secondary share placements to raise billions of Hong Kong dollars for hardware and research. Zhipu AI, which trades as Knowledge Atlas Technology, saw its stock surge as much as 9 per cent to HK$1,989 (US$253.73) on Thursday morning after launching an accelerated bookbuild to raise HK$31.4 billion. The company is offering 19.8