Chinese AI stocks surge as Zhipu, MiniMax gain hundreds of percent YTD
Zhipu shares have jumped over 2,000% year-to-date in Hong Kong, while rival MiniMax has gained 260%. The rally follows new Chinese government measures to boost AI adoption across multiple sectors.
Shares of Chinese AI model developers have seen dramatic gains this year. Zhipu, a developer of large language models similar to ChatGPT and Claude, has surged more than 2,000% year-to-date in Hong Kong. Another domestic competitor, MiniMax, has risen about 260% over the same period.
The rally accelerated this week after Beijing introduced fresh policies aimed at expanding artificial intelligence adoption across consumer markets, e-commerce, logistics, and retail. Separately, the securities regulator pledged to ease listing requirements for AI-focused companies, further lifting sentiment.
Both firms are among the key beneficiaries of China's ongoing domestic AI investment boom, as the country pushes to build its own ecosystem around generative AI.
Source: The Kobeissi Letter