Hong Kong-listed AI model concept stocks continued their strong performance on August 7, with MINIMAX-W surging over 17% intraday to a high of HK$349.8, while Zhipu AI rose over 14% to a peak of HK$1,247.

Since MINIMAX-W was officially included in the Stock Connect program on August 6, its share price has accumulated gains of over 30% in just two trading days.

On the news front, DeepSeek announced yesterday that it will significantly raise API service pricing. Market analysts view this as a key signal that the commercialization of China's domestic AI model industry is accelerating, with competition shifting from "low-price market share grabs" to a battle of comprehensive capabilities.

A recent report from Goldman Sachs also raised its forecast for the combined annualized recurring revenue (ARR) of Chinese AI models by the end of 2026 to US$13 billion.

At the individual stock level, MINIMAX-W announced on August 3 that its H3 model is now open-source, with multiple domestic chip manufacturers such as Moore Threads and Haiguang Information completing compatibility in sync. Zhipu AI launched its flagship model, GLM-5.2, in June this year, achieving state-of-the-art (SOTA) results for open-source models on the Artificial Analysis comprehensive ranking.

The continued validation of commercialization progress has boosted market confidence in the "AI model twin giants."