Chinese AI stocks are skyrocketing: Shares of Zhipu, a Chinese AI model developer, have surged +2,000% year-to-date in Hong Kong. MiniMax, another Chinese AI model developer, has gained +260% over the same period. Both companies build LLMs similar to ChatGPT and Claude, and have become key beneficiaries of China’s domestic AI investment boom. The rally was further fueled this week after China introduced new measures to expand AI adoption across consumer markets, e-commerce, logistics, and retail, while the securities regulator pledged to ease listing requirements for AI companies. China’s AI boom is accelerating.(The Kobeissi Letter)