Insiders: The mysterious model is the upcoming GLM-5 released by Zhipu

Recently, OpenRouter, a global model service platform, launched an anonymous model codenamed "Pony Alpha", which has attracted attention from the whole network. According to the platform's partner Kilo Code, Pony Alpha is a specialized evolved version of the most popular open-source model in a global laboratory. This means that Pony Alpha is more likely to be DeepSeeker V4 or the upcoming next-generation model GLM-5 from Zhipu. The reporter learned from informed sources that Zhipu currently has related confidential projects in progress, and this mysterious model is the upcoming release of Zhipu's new generation model GLM-5. In terms of capital market performance, Zhipu's stock price hit a new high today, with a market value exceeding HKD 150 billion at one point, which is nearly three times its IPO market value.