China AI Startups Surge After Holiday in Rotation From Big Tech

Shares of China’s generative AI startups Zhipu and MiniMax Group Inc. soared in Hong Kong as the market reopened after the Lunar New Year, with investors piling into pure AI plays and rotating out of traditional Internet giants.

Zhipu — officially known as Knowledge Atlas Technology JSC Ltd. — jumped 43% while MiniMax closed 15% higher. Since their Hong Kong listings in January, both stocks have risen more than fourfold.