On August 27, Z.AI rose 5.83% in regular trading, trading at HKD 1,090/share. The stock opened sharply higher following the company's confirmation of a highly anticipated model launch.

On the news front, Z.AI officially confirmed that the viral anonymous model Ox Alpha is its new lightweight flagship GLM-5.3-Flash, which has been simultaneously launched and open-sourced. The model features approximately 300B parameters with a MoE architecture activating around 18B parameters, directly targeting DeepSeek V4 Flash. It supports native multimodal capabilities including image and video input, and is priced at RMB 0.8/2.8 per million tokens for input/output respectively — roughly one-tenth of GLM-5.3. Notably, the model's inference is powered entirely by a cluster of over 100,000 domestic chips, with Z.AI claiming hardware efficiency on par with mainstream NVIDIA GPUs.

Prior to the official reveal, Ox Alpha had anonymously topped the OpenRouter leaderboard and broken DeepSeek's 56-day reign on OpenCode, generating significant developer buzz. Benchmark scores place it above GLM-5.2 and on par with Claude Opus 4.8 in coding tasks.

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