Chinese AI companies MiniMax and Z.AI shed $150B since January
Chinese AI companies MiniMax and Z.AI have shed a combined $150 billion in market value from their respective highs after their market debuts in January.
Even with fresh AI models like MiniMax's M3.1 Flash and Zhipu's GLM-5.3-FlashX, the slump isn't letting up.
Things could get bumpier in January when share lockups expire, possibly flooding the market with more shares.
Competition, delayed profits for Chinese AI
Global tech giants like OpenAI are cutting costs, making it harder for Chinese AI firms to stand out.
New IPOs from DeepSeek and Moonshot AI could make attracting investors even tougher.
Analysts aren't too optimistic about MiniMax or Zhipu catching up soon; despite lots of users worldwide, profits might not show up until 2028.
Still, some say Zhipu's coding capability gives it an edge over MiniMax for now.