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Z.AI Co., Ltd., branded internationally as Z.ai, is a Chinese artificial intelligence company; their flagship product is the GLM family of open weights large language models (LLMs). Formerly known as Zhipu AI outside China until 2025, it is China's first major LLM company to make initial public offering, on the Hong Kong Stock Exchange in January 2026.
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Anthropic has rescheduled its planned IPO to November, aiming for a valuation of approximately $2 trillion. The company is expected to reach the public markets ahead of rival OpenAI, with potential funding targets reaching $100 billion.
According to 虎嗅, security blogger ferstar revealed on September 18 that Zhipu's ZCode tool automatically uploads users' entire projects and modification histories to cloud servers upon login, with decryption keys held exclusively by Zhipu. Zhipu apologized, attributing the issue to a default-enabled feature, and promised to open-source its codebase and introduce third-party audits. The report notes this incident follows similar data privacy controversies involving xAI's Grok Build and Anthropic's Claude Code.
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Zhipu apologizes after security blogger discovers ZCode uploads user projects
According to 虎嗅, security blogger ferstar revealed on September 18 that Zhipu's ZCode tool automatically uploads users' entire projects and modification histories to cloud servers upon login, with decryption keys held exclusively by Zhipu. Zhipu apologized, attributing the issue to a default-enabled feature, and promised to open-source its codebase and introduce third-party audits. The report notes this incident follows similar data privacy controversies involving xAI's Grok Build and Anthropic's Claude Code.
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