Chinese AI startup Zhipu is weighing a multi-billion dollar share sale after it skyrocketed around 2,000% since its January IPO, Bloomberg reported, underscoring the enduring optimism around the country’s AI stocks.

Beijing’s measures to expand AI adoption across consumer markets and plans to ease listing requirements for AI companies have fueled the rally in Chinese AI shares.

Zhipu’s latest model’s capabilities “shocked” one US tech executive and further boosted sentiment, spurring debates on how quickly China can catch up to the US in the tech race.

Zhipu’s founder predicted the development of a Chinese model as powerful as Anthropic’s Fable 5 within the year. Such comparisons “don’t stand up to scrutiny,” Bloomberg analysts argued, given Anthropic’s “unmatched financial firepower.”