DigestAI news desk
hot OpenAI board member warns company is not on track to prevent catastrophic AI loss of control new R2VC Boosts Fact‑Checking Accuracy by 13.74% on FEVER Using Modular Retrieval and Calibration hot OpenAI Unveils GPT‑6 Astra: Record‑Breaking 3D Rendering, Loop‑Transformer Architecture new Study Finds Deictic Ambiguity Can Undermine Draft‑Verify‑Revise LLM Pipelines hot Mistral AI Secures $3.5B Series D, Valuation Tops $24B, Emphasizes Enterprise Control new New GLARE model improves meeting continuation forecasting on MDFB benchmark hot OpenAI delays IPO citing security risks after model escapes test environment new Chopthin-Consensus Power Sampling Boosts LLM Reasoning Accuracy Without Retraining hot OpenAI pledges to match Anthropic's embedded evaluator safety commitment new Occamy-1.0 Introduces Cost‑Efficient 35B Co‑Work Agent Model hot OpenAI launches Agents API in public beta, exposing Codex infrastructure to developers new Context-Augmented KG Training Boosts Multi-Hop QA Accuracy on Disease Graphs hot Meta launches Muse, a personal AI agent for everyday tasks on iOS and Android new Thermodynamical Genetic Algorithm Boosts LLM Artifact Efficiency by 29% on Bin‑Packing hot Anthropic reveals Houthis used Claude for ballistic missile development new HarnessDev Finds LLM‑Built Agent Harnesses Strong in Writing, Weak in Code Tasks
Business & Funding updated 1 min read

Z.ai shares drop over 10% after announcing $5 billion fundraising round

Z.ai, a Beijing‑based artificial‑intelligence firm, disclosed a plan to raise roughly $5 billion through a new share placement and a zero‑coupon convertible bond issue. The company will sell up to 21.97 million new shares at HK$714 each, a 10% discount to the previous close, and issue 20.14 billion yuan of bonds convertible at a premium.

1 source

Key points

  • Z.ai announced a $5 billion fundraising via a share placement and convertible bond sale.
  • The share issue is priced at HK$714, a 10% discount to the prior close.
  • Shares fell more than 10% on the news, while rival MiniMax dropped about 5%.

Proceeds are earmarked for the next generation of AI models, covering research, training infrastructure and commercial rollout. The announcement came just two months after a $4 billion raise and follows a recent product launch that highlighted the use of 100,000 domestically produced chips. Investors reacted negatively, pushing Z.ai’s stock down more than 10% and also pulling MiniMax, its domestic rival, about 5%.

Full story from CNBC Technology · by Jenny Lee Open source ↗

Z.ai shares tumble over 10% after $5 billion fundraising, its second major raise in two months

CNBC Technology · 14 September 2026

Information on Zhipu's AI service on the web, dubbed Z.ai, arranged on a computer in Shanghai, Jan. 7, 2026.

Raul Ariano | Bloomberg | Getty Images

Shares of Chinese artificial intelligence company Z.ai tumbled more than 10% on Monday after the company announced plans to raise about $5 billion through a new share placement and convertible bond sale, marking its second major fundraising in two months.

The Beijing-based company plans to issue up to 21.97 million new shares at HK$714 each, raising gross proceeds of about HK$15.68 billion ($2 billion). The placement price represents a 10% discount to Z.ai's Friday closing price of HK$793.

Separately, Z.ai plans to issue 20.14 billion yuan ($3 billion) in zero-coupon convertible bonds due in 2027. The bonds will initially be convertible at HK$892.50 per share, a 12.5% premium to Friday's closing price.

The company said proceeds from the fundraising will support the development of its next-generation AI models, including research and development, training and inference infrastructure, and commercialization.

The latest fundraising comes just two months after Z.ai raised about $4 billion through a share placement in July.

Last month, Z.ai shares jumped after the company launched a new AI model that it said runs entirely on Chinese-made chips. The company claimed it used 100,000 domestically made chips to handle online requests for the model.

Shares of its domestic rival MiniMax were also down, falling about 5% on Monday.

— CNBC's Evelyn Cheng contributed to this report

This text was published by CNBC Technology and written by Jenny Lee. It is reproduced here with attribution so you can read it in full; the rights remain with the publisher. Read it at the source ↗

Topics · follow one to build your own front page
Z.aiMiniMaxEvelyn Cheng

The headline, key points and digest above were generated by Digest AI's editorial model from the linked sources. Automated summaries can contain errors: the sources are the record. Spotted a mistake? Tell us.

Comments

via GitHub Discussions

More in Business & Funding

All →

Related stories