Morgan Stanley calls Zhipu the winner in China's generative AI field, maintains its super rating, and lowers MiniMax to neutral According to Beating Monitoring, JPMorgan Chase positioned Zhipu as the winner in China's generative AI field in its research report. Analysts maintained Zhipu's overweight investment rating and downgraded its competitor MiniMax's rating to neutral. The commercialization paths of the two companies diverged after mid March. After launching the GLM-5 series models, Zhipu demonstrated its premium capability and raised its service prices. In contrast, MiniMax failed to demonstrate equal pricing power in the fields of code and language modeling, and chose to shift its positioning towards a universal tool that includes video generation and consumer applications. JPMorgan Chase pointed out that Zhipu has clearer model visibility and demonstrates pricing advantages in a fiercely competitive environment. At the close of the Hong Kong stock market, Zhipu rose by over 32.5%, while MINIMAX-W rose by 6.7%. [Original link]