[Zhipu Placement Finalized, JPMorgan Raises Zhipu Target Price Again] Odaily Planet Daily News – JPMorgan has raised the target price of Zhipu (02513.HK) by 20%, marking the second time within a week that the target price of this Chinese large-scale model enterprise has been increased following an adjustment last Tuesday. The bank stated that the company's latest fundraising plan will support revenue growth. Analysts, including Olivia Xu, wrote in a research report that the $4 billion raised through the stock placement will alleviate bottlenecks in computing power supply while supporting subsequent investments in model training. JPMorgan noted that the additional inference computing resources are expected to convert into annual recurring revenue (ARR) within 12 months. JPMorgan has raised Zhipu's target price from HK$2,000 to HK$2,400, after having just increased it from HK$1,800 to HK$2,000 last Tuesday. In addition, JPMorgan simultaneously lowered the target price of MiniMax (00100.HK). The company's share lock-up period expired last week, and it launched a fundraising plan, with the placement causing a dilution effect on equity, leading to a downward revision of expectations. Following last week's target price adjustment, the target price has been further reduced from HK$300 to HK$240 this time. (Jin10)