富瑞：智谱(02513)GLM 5.2排名全球第三成中国AI里程碑

智通财经14:36

智通财经APP获悉，富瑞发布研报称，智谱(02513)旗下GLM 5.2模型在Artificial Analysis模型智能指数中排名全球第三，为中国模型首次打入前三位，在编程及智能体能力上分别排名全球第四及第二，成为中国AI的发展里程碑。

然而富瑞亦提醒，美国对Anthropic Fable 5的存取限制或难以持续，而且开发者有多种替代方案及开源模型可选。目前，智谱估值过高，按2026年底达10亿美元年化经常性收入(ARR)指引计算，现时P/ARR高达94倍，对比Anthropic仅约18倍。

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