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Change in stocks | AI concept stocks surged in the afternoon trading, Zhipu soared over 30% to break new highs
Zhipu (02513) and Xiyu Technology (MiniMax) (00100), among other Chinese large-model stocks, surged sharply in the afternoon, with Zhipu breaking to a new high again.
After the afternoon session, Zhipu was heavily traded, soaring by up to 39% to a high of 1,168 yuan, closing at 1,150 yuan for the day, up 36.9%, with turnover of 3.56 billion yuan. Xiyu Technology closed at 818 yuan for the day, up 18.5%; Xunce (03317) closed at 283.2 yuan, up 23.9%.
Analysts said that as Nvidia’s (Nvidia) CEO Huang Renxun joined U.S. President Donald Trump on his Beijing visit, traders assessed potential positive developments for China from obtaining H200 chip supply from Nvidia.
Bloomberg industry research analysts said that the current situation offers room for imagination about potential negotiations for Nvidia to resume supplying China. This will benefit China’s token economy and companies like MiniMax, as more powerful Nvidia chips could drive greater demand for computing power.