GLM-5.3 joins Amazon Bedrock, showing two Chinese model go-to-market paths
An analysis published via 36Kr's Muhe Business Finance says Zhipu's GLM-5.3 went live on Amazon Bedrock during China's October National Day holiday under a usage-based revenue-share deal; Zhipu's Hong Kong shares reportedly rose more than 7% that day, and Goldman Sachs upgraded the stock to buy with a HK$1,560 target, raising its end-2026 ARR estimate for Zhipu from $2.7bn to $3.2bn. The piece contrasts this with DeepSeek, which has been available on Bedrock since March 11, 2025 via Bedrock and Custom Model Import but is described as prioritising distribution and open weights over direct monetisation, a difference it ties to Zhipu's post-IPO revenue pressure versus DeepSeek's High-Flyer backing and its reported RMB 51bn first external round in June 2026.
It frames two distinct overseas routes for Chinese model makers — cloud revenue-sharing versus open-weight distribution — and notes that Chinese cloud platforms tend to reserve prime shelf space for their own models.