상장 후 지푸, 장기 과제 에이전트에 베팅. 확인된 사실을 유지하면서 제품, 인프라, 거버넌스 관점에서 현지 독자가 읽기 쉽게 정리했다.
무슨 일이 있었나
상장 후 지푸, 장기 과제 에이전트에 베팅 is the current news peg. The verified record centers on these points:
- 2025 revenue was reported at 724 million yuan, up about 131.9%
- MaaS API ARR reached 1.7 billion yuan, up 60x in a year
- GLM-5.2 targets long-horizon tasks with a 1M-token context
- benchmarks list Terminal-Bench 2.1 rising from 62.0 to 81.0 and SWE-bench Pro from 58.4 to 62.1
왜 중요한가
더 큰 신호는 the company is trying to turn model iteration into a faster machine-generated training and verification loop.
다음 관전점
다음 확인 지점은 whether open weights, safety controls and enterprise adoption can survive real long-task workloads.
참고 자료：36Kr Intelligent Emergence, Zhipu internal letter, Securities Times, Cailian Press, Z.ai GLM-5.2 blog, GitHub zai-org/GLM-5, CocoLoop.