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WAIC2026 heats up, MINIMAX and Zhipu stocks jump over 8%

The 2026 World Artificial Intelligence Conference (WAIC2026) is just around the corner, and the buzz is already sending ripples through the stock market. On July 15, shares of major AI large-model companies listed in Hong Kong saw a notable uptick. MINIMAX-W (00100.HK) surged 12.52%, Zhipu (02513.HK) climbed 8.81%, and Qunhe Technology (00068.HK) rose 6.11%. The rally wasn't just about conference hype—it was also fueled by upward revisions in target prices from heavyweight financial institutions.

Scheduled for July 17-20 in Shanghai, WAIC2026 is shaping up to be a big deal. The conference will zero in on three core AI areas, with a whopping 112 forums—making up 64% of the total agenda. This year, special attention is on AI intelligent computing and embodied intelligence, with over 200 companies signing up to showcase their latest innovations. China Securities noted that as large models, AI infrastructure, and computing chips continue to evolve, the outlook for domestic computing power remains bright.

So, what's got everyone excited? Here are the four key highlights to watch:

  • New computing chips take the stage: Companies like Tianshu Zhixin are rolling out fresh products, aiming to speed up commercialization.
  • Super nodes steal the spotlight: Think clusters with tens of thousands—or even hundreds of thousands—of GPUs. These massive setups are expected to draw serious attention.
  • Edge AI and apps move closer to reality: Deployment at the edge is accelerating, with applications gradually maturing.
  • Cutting-edge large-model tech on display: A concentrated showcase of AI infrastructure and related innovations, backing up the tech push.

Zhipu and MINIMAX were the standout performers in this rally. Morgan Stanley's latest report raised Zhipu's target price from 2000 HKD to 2400 HKD, slapping an "overweight" rating on the stock. The bank pointed out that the basic model industry has entered a capital-intensive phase, making the ability to secure funding more critical than ever. Zhipu recently completed a placement of 19.78 million new H-shares, raising about 31.41 billion HKD—funds earmarked for general AI R&D and business expansion. That's a clear vote of confidence from the market.

MINIMAX also grabbed headlines. In a research note, China International Capital Corporation (CICC) described the company as a rare asset in the AI large-model space, with high growth potential. Sure, its R&D spending has widened short-term losses, but the numbers tell a compelling story: revenue jumped 159% year-on-year in FY2025, underscoring strong market competitiveness.

In short, WAIC2026 isn't just a platform for companies to strut their stuff—it's also injecting fresh energy into the capital market, driving a solid rebound in large-model concept stocks.

Key Points

  • Stock surge: MINIMAX-W up 12.52%, Zhipu up 8.81%, Qunhe Technology up 6.11% on July 15.
  • Conference details: WAIC2026 runs July 17-20 in Shanghai, with 112 forums and over 200 exhibitors.
  • Focus areas: AI intelligent computing, embodied intelligence, new computing chips, and super nodes.
  • Analyst upgrades: Morgan Stanley raised Zhipu target to 2400 HKD; CICC highlighted MINIMAX's 159% revenue growth.
  • Funding: Zhipu raised 31.41 billion HKD via new share placement for AI R&D and expansion.