On the first trading day of the Year of the Horse, investors are rushing into pure AI concept stocks.

Gelonghui, February 20 — After the Spring Festival holiday, Hong Kong stocks迎来 the first trading day of the Year of the Horse. Investors are flocking into pure artificial intelligence concept stocks while pulling out of traditional internet giants. During the early trading session, Zhipu (2513.HK) stock price surged by as much as 25%, and MINIMAX-WP (0100.HK) also rose about 16%, with gains later narrowing. Since their listing on the Hong Kong stock market in January this year, these two stocks have both increased more than fourfold. Meanwhile, traditional tech giants Alibaba (9988.HK) and Tencent Holdings (0700.HK) saw their stock prices decline, despite both reporting strong holiday earnings. An analyst pointed out, “Funds are pouring into pure AI companies, while diversified platforms like Alibaba and Tencent are experiencing some profit-taking. The recent release of Chinese AI models has reignited market interest in leading companies in foundational models.”