Bybit 上线 Tencent、MiniMax、Zhipu AI、Pop Mart、GigaDevice 港股永续合约
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OKX will launch several perpetual stock contracts, including Zhipu AI and MiniMax.
According to Foresight News , OKX will launch several perpetual stock contracts in select regions starting at 15:00 on June 24th, including the Zhipu AI perpetual contract ZHIPU/USDT (15:00), the MiniMax perpetual contract MINIMAX/USDT (15:15), the ProShares Ultra VIX Short-Term Futures ETF perpetual contract UVXY/USDT (17:00), the Direxion Korea 3x Long ETF perpetual contract KORU/USDT (17:15), the Sony perpetual contract SONY/USDT (17:30), and the Supermicro PC perpetual contract SMCI/USDT (17:45).
JPMorgan: Open source weight commercialization exhibits a "winner-takes-all" phenomenon; Zhipu target price raised to HK$2,000, MiniMax target price cut to HK$300.
According to BlockBeats, on July 8th, JPMorgan Chase released a research report stating that currently competitive models in the market can expand adoption through open-source weighting and continue to monetize through official APIs, partner channels, enterprise deployments, and workflow products; while weaker models face faster price comparisons and traffic fragmentation. JPMorgan Chase raised its revenue forecasts for Zhipu from 2026 to 2030 by 3% to 9%, and narrowed its adjusted loss forecasts for 2026 and 2027 to RMB 3.711 billion and RMB 3.141 billion respectively. The 2028 forecast was revised from a loss of RMB 1.287 billion to a profit of RMB 2.367 billion. The target price was raised from HKD 1800 to HKD 2000, maintaining an "Overweight" rating. The report believes that the performance of GLM-5.5/6, KimiK3, and DeepSeekV4.1 will be key indicators of whether Zhipu can maintain its leading position. JPMorgan lowered its revenue forecasts for MINIMAX-W (2027-2030) by 2% to 8%, and reduced its target price from HK$400 to HK$300, while maintaining a "neutral" rating. The company noted that the M3 model offers a permanent 50% discount, reflecting that the model has not yet created a significant capability premium for leading domestic competitors. JPMorgan believes that if MiniMax can narrow the capability gap, normalize the discount, maintain API usage, and demonstrate stronger workflow stickiness through MiniMaxCode, its outlook could turn positive.
Large-scale model stocks in Hong Kong extended their gains, with MINIMAX and Zhipu rising over 16%.
Mars Finance reported on July 8th that MINIMAX-W (00100.HK) rose 17%, and Zhipu (02513.HK) rose 16%. In terms of news, Zhipu, a leading Hong Kong-listed large-scale model manufacturer, saw its first share lock-up period expire today, with several core institutional investors clearly choosing to continue their investment. (Science and Technology Treasure Broadcast)
B.AI Latest operational data disclosed: Daily token throughput reached 15.37 billion, with MiniMax M3 ranking first in usage popularity.
Mars Finance reports that the AI infrastructure platform B.AI released its latest operational data on June 25th. The data shows that the platform's daily token throughput has reached 15.37 billion, and it has maintained a high-load inference operation for several consecutive days. Furthermore, the platform's API call rate has climbed to 99.6%, primarily supporting large-scale AI agents, automated processes, and enterprise-level core system applications. In terms of specific model ecosystem performance, the MiniMax M3 large model continues to rank first in terms of call popularity.
Tencent Cloud helps Indonesia's XLSMART achieve end-to-end AI cloud transformation
Mars Finance reported on June 26 that Indonesian operator XLSMART announced the completion of its large-scale public cloud transformation. Based on XLSMART's long-term digital strategy, Tencent Cloud, as its core cloud strategic partner, integrated AI into the entire migration process, helping the project complete a smooth migration in 4.5 months. During the migration, the Tencent Cloud team also developed more than 20 cloud migration skills based on the code assistant CodeBuddy and the efficiency intelligence agent WorkBuddy, covering the entire migration lifecycle from resource discovery to cutover verification. This migration involved 1200 microservices, 1100 APIs, and 900 business interfaces, smoothly handling over 15TB of core data assets.
Hong Kong-listed stocks related to the large-scale model concept declined: Zhipu fell over 14%, and MINIMAX-W fell over 11%.
PANews reported on June 23 that, according to market data, Hong Kong-listed large-scale model concept stocks declined, with Zhipu falling by 14.11% intraday to HK$2070; MINIMAX-W fell by 11.35% to HK$541.60.