智通财经APP获悉，大模型概念股表现强势，截至发稿，智谱(02513)涨12.62%，报945.6港元；MINIMAX-W(00100)涨9.63%，报757港元；迅策(03317)涨6.74%，报244港元。
消息面上，近日AI行业密集探索大模型变现。豆包公布付费订阅方案，DeepSeek融资传获国家队加持，千问与淘宝全面打通，智谱AI、MiniMax等企业也通过不同渠道调整了API定价。招商证券表示，中国大模型行业Agent商业化势不可挡。
中信建投发布研报称，随着模型参数量持续扩大，性能不断提升，ARR飙涨，以及大模型公司陆续IPO，预计大模型决赛圈名单基本出炉。大模型ARR具备极强的爆发力和巨大的成长空间。该行认为，很可能在2026年看到ARR达到2000亿美元左右的大模型公司。
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