The Zhitong Finance App learned that the big model “Shuang Xiong” strengthened again this morning, and the MINIMAX-W (00100) stock price increased by more than 30% in just two trading days after entering the market. As of press release, MINIMAX-W (00100) rose 14.13% to HK$339.2; Smart Spectrum (02513) rose 8.56% to HK$1,180.
According to the news, DeepSeek announced a price increase yesterday. It plans to increase the overall pricing of API services in the near future, and is expected to increase significantly. Market analysis indicates that DeepSeek's proposed increase in API prices is an important signal for commercialization of the large domestic model industry, and industry competition is expected to shift from “low price share grabbing” to comprehensive competition of “capacity, scenario, cost, and monetization efficiency.” A recent Goldman Sachs research report also pointed out that as demand grows and commercialization accelerates, the total annualized recurring revenue (ARR) of the Chinese AI model is expected to reach 13 billion US dollars by the end of 2026, higher than the previous forecast of 10 billion US dollars. Goldman Sachs believes that China's model competition is shifting from simple low prices to a comprehensive competition of performance, price, and commercialization capabilities.
It is worth noting that two companies, MINIMAX and Zhipu, have recently moved frequently to verify the acceleration of commercial implementation. On August 3, MiniMax announced that H3 was officially open source, and many domestic chip manufacturers, including Moore Thread, Mu Xi Co., Ltd., and Haiguang Information, announced the completion of the adaptation at the same time. The MiniMax H3 also achieved excellent performance in international model evaluations. Its popularity quickly rose to number one on the open source community Hugging Face. In June of this year, Zhi Spectrum launched its latest flagship model, GLM-5.2, which scored 51 points on the Artificial Analysis comprehensive list, second only to Anthropic and OpenAI, and is the open source model SOTA.