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Chinese AI stocks rallied on Friday after OpenAI unveiled GPT-6 Astra, its latest artificial intelligence model, fueling investor optimism over accelerating AI development and the commercial potential of advanced AI agents.
MiniMax shares jumped 6.5% to HK$378, leading gains among major AI-related companies. Baidu rose 4.6%, Kuaishou Technology gained 4.2%, JD.com climbed 4.1%, and Xiaomi advanced 3.9%. Z.AI, also known as Zhipu AI, edged higher to around HK$1,108.
The gains followed OpenAI's launch of GPT-6 Astra on Thursday. OpenAI describes Astra as its most capable model to date, designed to handle complex tasks directly through computers and web browsers. Its capabilities include software development, research and other professional work, reinforcing expectations that increasingly autonomous AI agents could become a major part of the technology industry.
The GPT-6 Astra launch also provided investors with another benchmark for assessing Chinese AI developers as competition intensifies around large language models, AI agents and commercial applications.
MiniMax and Z.AI have emerged as closely watched publicly traded companies within China's expanding artificial intelligence sector. Both businesses recorded significant revenue growth during the first half of the year.
Z.AI reported first-half revenue of 953.9 million yuan, representing an increase of nearly 400% from the same period a year earlier. The company has continued investing in model development and expanding its AI product portfolio.
MiniMax, meanwhile, reported a 283% increase in first-half revenue. Analysts have highlighted differences between MiniMax and Z.AI across areas including revenue growth, annual recurring revenue and AI model performance.
Investor demand for MiniMax has also remained strong. Mainland Chinese investors purchased a net HK$10.1 billion of MiniMax shares through Stock Connect in August, making it the most heavily purchased eligible Hong Kong-listed company among onshore investors, according to Wind data.
The broader Hong Kong technology market strengthened alongside AI stocks. The Hang Seng Index opened 1.2% higher on Friday, while the Hang Seng Tech Index gained 1.5%, providing additional support for Chinese technology shares.
