Z.ai enters history
Z.ai (Zhipu AI), often nicknamed “China’s OpenAI”, is set to make AI history with two major announcements: the launch of GLM-4.7, the new global open-source number one, and a historic IPO scheduled for January 8, 2026.
IPO: first AI-native LLM company to go public
December 30, 2025 — Z.ai announces its IPO in Hong Kong, becoming the first AI-native company specializing in LLMs to be listed on global markets.
Z.ai is set for its IPO on Jan 8, 2026. This journey has been powered by our developers, researchers, and users from Day 1.
🇬🇧 Z.ai is set for its IPO on Jan 8, 2026. This journey has been powered by our developers, researchers, and users from Day 1. — @Zai_org on X
Why it’s historic
| Aspect | Detail |
|---|---|
| Date | January 8, 2026 |
| Stock Exchange | Hong Kong |
| First | First AI-native LLM company listed |
| Position | 3rd LLM player in China (after Baidu, Ali) |
GLM-4.7: the new king of open-source
December 22, 2025 — Z.ai unveils GLM-4.7, a model that redefines open-source standards by surpassing leading proprietary models.
GLM-4.7 is featured on Artificial Analysis Intelligence Index, positioned as a leading open-source model.
🇬🇧 GLM-4.7 is featured on Artificial Analysis Intelligence Index, positioned as a leading open-source model. — @Zai_org on X
Impressive benchmarks
| Benchmark | GLM-4.7 | vs Predecessor |
|---|---|---|
| AIME 2025 | 95.7% | — |
| HMMT Feb. 2025 | 97.1% | — |
| SWE-bench Verified | 73.8% | +5.8% |
| SWE-bench Multi | 66.7% | +12.9% |
| Terminal Bench 2.0 | 41% | +16.5% |
| τ²-Bench | 87.4% | — |
| HLE (with Tools) | 42.8% | +12.4% |
Comparison with giants
GLM-4.7 measures itself directly against GPT-5.1-High, Claude Sonnet 4.5, Gemini 3.0 Pro and DeepSeek-V3.2, displaying competitive or superior performance on the majority of reasoning and coding tasks.
Outperforms GPT-5.1 on Vending-Bench2
December 27, 2025 — GLM-4.7 becomes the first “profitable” open-source model on the Vending-Bench2 benchmark, specializing in long-horizon agentic tasks.
GLM-4.7 outperforms GPT-5.1 and stands out as the leading open-source model on Vending-Bench2, demonstrating strong capabilities in long-horizon agentic tasks.
🇬🇧 GLM-4.7 outperforms GPT-5.1 and stands out as the leading open-source model on Vending-Bench2, demonstrating strong capabilities in long-horizon agentic tasks. — @Zai_org on X
#2 on Design Arena
December 25, 2025 — GLM-4.7 reaches second place on Design Arena, just behind Gemini 3 Pro, confirming its capabilities in UI generation and web design.
Ranking #2 on Design Arena. Thanks to @Designarena for showcasing our progress in aesthetics.
🇬🇧 Ranking #2 on Design Arena. Thanks to @Designarena for showcasing our progress in aesthetics. — @Zai_org on X
Trending #1 on Hugging Face
December 24, 2025 — GLM-4.7 dominates the Hugging Face trending ranking again.
Trending #1 on @huggingface again! We’ll keep open-sourcing next year.
🇬🇧 Trending #1 on @huggingface again! We’ll keep open-sourcing next year. — @Zai_org on X
Three modes of thinking
GLM-4.7 introduces a flexible reasoning architecture with three modes:
| Mode | Description |
|---|---|
| Interleaved Thinking | Integrated reasoning before each response |
| Preserved Thinking | Preservation of reasoning between exchanges |
| Turn-level Thinking | Control of reasoning at each dialogue turn |
Aggressive pricing
Z.ai positions GLM-4.7 as an economical alternative to proprietary models:
| Aspect | GLM Coding Plan |
|---|---|
| Price | 1/7th of competitors |
| Quota | 3x standard usage |
| Access | API Z.ai, OpenRouter |
| Open-source | HuggingFace, ModelScope |
Day-0 Integrations
GLM-4.7 benefits from immediate support on numerous platforms:
- Fireworks AI : Day-0 support
- Roo Code : Native integration
- Kilo Code : Full support
- Blackbox CLI : Agent available
- Factory AI : Droid integration
Timeline December 2025
| Date | Event |
|---|---|
| 22 Dec | GLM-4.7 Launch |
| 23 Dec | Fireworks Day-0 support |
| 24 Dec | Trending #1 Hugging Face |
| 25 Dec | #2 on Design Arena |
| 27 Dec | Outperforms GPT-5.1 on Vending-Bench2 |
| 28 Dec | #1 open-source Artificial Analysis |
| 30 Dec | IPO Announcement - Jan 8, 2026 |
Access
- Chat : chat.z.ai
- Blog GLM-4.7 : z.ai/blog/glm-4.7
- API : Z.ai Platform
- Models : HuggingFace / ModelScope