Knowledge Atlas (02513) saw its stock price soar 6.56% during intraday trading on Wednesday, marking a significant upward movement for the AI technology company.

The surge follows news that the company, also known as Z.ai, has completed a 1-gigawatt AI computing data center powered entirely by domestically produced chips. This facility is expected to support its GLM family of AI models and help ease computing bottlenecks while improving inference efficiency. Additionally, the company completed the acquisition of infrastructure software developer XCore Sigma, which helps improve AI chip utilization across different vendors and accelerates model deployment.

Further supporting the positive sentiment, Haithong International reaffirmed its 'Outperform' rating for Knowledge Atlas and raised its target price from HK$1,200 to HK$2,300. The analyst cited the company's acceleration in annual recurring revenue growth and its strategic 'Touch High' initiative, which focuses resources on advancing fundamental research for Artificial General Intelligence (AGI) technologies.