In a blockbuster market entry, Chinese artificial intelligence firm MiniMax saw its share price skyrocket on its first day of trading in Hong Kong. The debut underscores the intense investor appetite for China's homegrown AI champions.
A Stellar First Day on the Exchange
Shares of MiniMax surged an impressive 109% on Friday, January 9, 2026, closing at 345 Hong Kong dollars. This remarkable jump followed the company's initial public offering (IPO), where it successfully raised HK$4.8 billion (approximately $619 million) by pricing its shares at HK$165 each. The debut outperformed the broader market, as the benchmark Hang Seng Index managed a modest gain of just 0.3% on the same day.
MiniMax Joins the Elite "AI Tigers"
MiniMax, which specializes in developing advanced large-language models, is now the second of China's heralded "AI tigers" to go public this week. Its performance starkly contrasted with its rival, Zhipu AI, which had a comparatively tepid debut. Zhipu AI struggled in early trading on Thursday before closing with a 13% gain at HK$131.50.
Founded in early 2022, MiniMax has rapidly expanded its global footprint. The company states on its website that its AI models and products have reached over 212 million individual users across more than 200 countries and regions. Its investor roster features heavyweight names, including e-commerce giant Alibaba and the Abu Dhabi sovereign-wealth fund.
Fueling China's Broader AI Ambitions
The explosive debut of MiniMax is the latest indicator that the rally in China's artificial intelligence sector possesses significant momentum. This trend aligns with Beijing's strategic push to cultivate domestic alternatives to leading U.S. technology firms like Nvidia and OpenAI.
The investor frenzy is not isolated to MiniMax. Recent weeks have seen similar spectacular debuts for other Chinese chip designers. Last month, Moore Threads Technology and MetaX Integrated Circuits both posted triple-digit percentage gains on their first trading days. Similarly, rival Shanghai Biren Technology soared 76% during its market debut just last Friday.
This series of successful listings highlights robust market confidence and signals that capital continues to flow aggressively into China's quest for technological self-reliance and leadership in the critical field of artificial intelligence.
