Zhipu ARR grew fourfold in four months, reaching $1 billion in July

Zhipu's ARR reached $1 billion in July, an increase of about four times compared to the 1.7 billion ARR disclosed at the end of March. Macquarie has raised its ARR forecast for Zhipu to $2 billion in 2026 and $4.5 billion in 2027. Zhipu's API prices have increased by 83% in the first quarter of this year, with a 400% increase in call volume. Macquarie believes that GLM-5.2's coding capabilities have driven user adoption.