Zhipu AI’s stock soared 30% after the launch of its GLM-5 large language model, boasting enhanced coding capabilities that rival top competitors like Anthropic and Google. This surge in Hong Kong came amidst a broader rally in Chinese AI stocks as firms unveiled innovative models and policymakers urged for widespread AI adoption. MiniMax also gained 11% with its updated M2.5 model. Investor enthusiasm increased for AI-related companies, with UCloud Tech and SenseTime seeing stock jumps of 20% and 5%, respectively. Premier Li Qiang emphasized bolstering the AI sector in China, calling for better resource coordination. As Chinese tech giants faced declines, AI startups thrived, contrasting with the volatility in the U.S. AI market where concerns about inflated valuations loom. Analysts suggest a discerning investment approach in AI infrastructure, noting that Chinese companies maintain lower capital expenditures compared to their American counterparts. The competitive landscape is intensifying as developers rush to innovate.
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