The Anthropic news is SOO bullish for Chinese AI btw
One government letter forced Anthropic to pull its two most powerful models in 90 minutes. Closed-source US models are a single point of failure. Chinese labs ship open-source models you can self-host on your own infra.
HKEX: 2513 — Knowledge Atlas (Zhipu)
-> China's leading pure play AI lab out of Tsinghua, IPO'd jan 2026
-> US cut off their nvidia chip access entirely in jan 2025.
-> instead they rebuilt on chinese hardware and shipped GLM-5, a 744B parameter model now beating claude on coding benchmarks. sanctions made them more efficient than labs
-> cloud ARR hit $250M in march, targeting $1B by year end. stock up 1,600% since IPO
HKEX: 00100 — MiniMax
-> shanghai lab IPO'd jan 2026, oversubscribed 1,837x
-> M2.5 is beating claude opus on SWE-bench verified, the coding benchmark that actually matters
-> Hailuo AI their video gen product is going viral globally, 212M users across 200+ countries
-> ARR went from $150M in feb to $300M by end of may. targeting $1B EOY
$BABA — Alibaba
-> Qwen 3 is kinda competing with the best US frontier models and most people haven't priced this in
-> IF(very big if) enterprises rotate out of US AI they need somewhere to land. Alibaba has the models and cloud infra to absorb it at scale