The share price of CHINA MERCHANTS (HKEX: 00133) has risen sharply, gaining more than 8%. At the time of reporting, the stock was up 8.21% to HK$26.1, with a trading turnover of HK$41.38 million.

This movement follows significant news from the artificial intelligence sector. Early in the morning of July 17th, Moonshot AI officially announced the launch of its most advanced large language model to date, named Kimi K3. The company has reportedly completed several funding rounds this year.

According to reports from late last month, Moonshot AI's Kimi has successfully closed a funding round at a valuation of $20 billion. A new round of financing is already underway, with the pre-money valuation having increased to $31.5 billion.

Public records show that in December 2023, CHINA MERCHANTS announced that its wholly-owned subsidiary, Minxing Investment Limited, entered into a series of agreements with Moonshot AI. Under these agreements, Minxing agreed to invest $10 million to participate in the AI company's Series A financing round.