The market capitalisation of Hong Kong-listed artificial intelligence pioneer Zhipu AI surpassed HK$1 trillion (US$128 billion) on Monday, fuelled by investor optimism as the company goes head-to-head with its American rivals. Shares of Zhipu, which trades under the name Knowledge Atlas Technology, skyrocketed as much as 42 per cent on Monday morning to a peak of HK$2,980. They subsequently retreated to a morning-session gain of just over 17 per cent, closing at HK$2,458 at the noon break.