Zhipu's First Tmall Store: Search Surges 50x, Token Product Sales Jump 160%
Bubble signal: 0 · NeutralRelevance 30MarketsChina
Source: 36Kr · Published 2026-09-04
Summary
Zhipu opened an official flagship store on Tmall, and within 48 hours, brand searches surged 50x month-over-month, driving a 160% increase in sales of AI token subscription products on Taobao/Tmall. Tmall has launched an AI space station, initially integrating major model providers like Alibaba Cloud, Zhipu, Kimi, MiniMax, and DeepSeek, allowing users to directly purchase subscription services.
Bubble analysis
This news is mainly about retail channel expansion for AI products, which is not closely related to the core bubble question (capex, valuation, funding). Although the sales growth figures are impressive, they do not involve large-scale capital flows or valuation changes, so their relevance to bubble assessment is limited.
#china#zhipu#tmall#ai-token
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