HK Stock Market Move | Anthropic races toward the largest IPO in history; Z.AI (02513) rises over 9% in early trading; MINIMAX-W (00100) gains over 4%

Anthropic's IPO news boosts large-model concept stocks. As of press time, Z.AI (02513) rose 9.59% to HK$554; MINIMAX-W (00100) rose 3.56% to HK$180.3. On the news front, AI unicorn Anthropic has officially filed its S-1 to pursue a Nasdaq listing under the ticker "ANT". According to reports, Anthropic plans to hold its IPO in the week of November 16. Anthropic is targeting a valuation of up to US$2 trillion, which, if achieved, would make it the largest IPO in history. CITIC SEC released a research report stating that although the market is currently becoming more cautious toward large models, it remains firmly bullish on the long-term commercial value and valuation growth potential of Chinese and U.S. models. China Securities Co.,Ltd. previously noted that following the intensive upgrades of core overseas models in September-October, domestic models will also see a relatively intensive round of iterative upgrades in Q4. It looks forward to subsequent releases such as GLM5.5, M3Pro, and K3.1.