Back to labs
China · listed
Zhipu AI / Knowledge Atlas
Sovereign enterprise and government deployment demand is the monetization wedge. GLM should be analyzed less like a consumer app and more like private-cloud AI infrastructure.
GLM2513.HK
Financial metrics
| Metric | Period | Value | Source | Confidence |
|---|---|---|---|---|
| revenue | FY2025 | 724 RMB_millions | reported | medium |
| revenue_growth_yoy | FY2025 | 132 percent | reported | medium |
| on_prem_revenue_mix | FY2025 | 74 percent | reported | medium |
Revenue mix
on_prem_private_deployment74%
cloud_api26%
Risks
- - valuation multiple
- - cash burn
- - domestic chip constraints
- - government/customer concentration