Key facts
- Zhipu AI (Knowledge Atlas Technology) and MiniMax both listed on the Hong Kong stock exchange in January.
- MiniMax initially had a larger market capitalization at its debut (HK$106.7 billion) compared to Zhipu AI (HK$57.9 billion).
- Five months post-IPO, Zhipu AI has significantly outperformed MiniMax.
When Chinese artificial intelligence developers Zhipu AI and MiniMax made their debuts on the Hong Kong stock exchange in January, investors initially saw one as a better bet than the other. Beijing-based Zhipu closed its first trading day on January 8 with a market capitalisation of HK$57.9 billion (US$7.4 billion). A day later, Shanghai-based MiniMax listed at HK$106.7 billion, almost twice as large. Five months on, however, Zhipu – traded as Knowledge Atlas Technology – has surged ahead.