"（市值）确实离谱，但暂时无法证伪。"多位布局A、H股的私募投资经理反馈称。在投资经理看来， 稀缺性仍令这两大标的受到追捧—— 智谱依托清华系技术沉淀 ，走to B路线； MiniMax凭借多模态技 术构建全球化C端产品矩阵，海外收入占比超7成 。打开想象的"出海"故事尚难被证伪，中国相较于美 国的电力成本优势又是另一重积极叙事。 不过需要注意的是，减去禁售部分，MiniMax和智谱的真正流通股本仅分别为1700万股和1170万股， 属 于 典型"小股本更容易形成上涨趋势"的香港新经济玩法，在6-12个月锁定期前后则可能面临较大抛压或 盈利审视。毕竟当模型不再稀缺的全球格局下，未来如何变现才是王道。 MINIMAX-WP(H00100) HK] < 會 Q 体市中 02-20 16:10:00 香港时间 报价 讨论 资讯 分析 轮证 财务 简况 970.000 +14.52% HKD 软件服务.HK +0.09% 今开 893.000 最高 980.000 成交量 383.45万 昨收 847.000 最低 809.000 成交额 35.27亿 ≤ -- ADR 0.000 -- % ADR换算价/港股 7 ...

Core Viewpoint - Alibaba Cloud aims to accelerate the creation of a global cloud computing network with strategic investments, emphasizing its long-term goal of building a competitive AI-enabled cloud infrastructure [1][2]. Group 1: Global Cloud Network Development - Alibaba Cloud plans to invest over 380 billion yuan in cloud and AI infrastructure over the next three years [1]. - The company will enhance its global cloud computing network, with new data centers opening in Malaysia, UAE, Thailand, South Korea, Japan, Mexico, and the Philippines this year [1]. - Currently, Alibaba Cloud operates 87 available zones across 29 regions worldwide [1]. Group 2: AI Product Internationalization - Alibaba Cloud is accelerating the internationalization of its AI products, with over 200 models open-sourced and more than 100,000 derivative models created [2]. - The Qianwen 3 model currently supports 119 languages, including many minority languages and dialects, gaining popularity in Japan, Southeast Asia, and Middle Eastern countries [2]. - The company is also enhancing its consulting, technical, and service teams to support Chinese enterprises in their international expansion [2].

Group 1 - The core strategy of Alibaba Cloud is to build a global cloud computing network, emphasizing that its primary product is this network itself [1] - Alibaba Group plans to invest over 380 billion yuan in cloud and AI infrastructure over the next three years, with a focus on expanding its global cloud network [1] - Alibaba Cloud will open seven new data centers this year in Malaysia, UAE, Thailand, South Korea, Japan, Mexico, and the Philippines, increasing its operational regions to 29 with 87 available zones [1] Group 2 - Alibaba Cloud is accelerating the internationalization of its AI products, with over 200 models open-sourced and more than 100,000 derivative models created [3] - The "Qianwen 3" model currently supports 119 languages, including many minority languages and dialects, and has gained popularity in Japan, Southeast Asia, and Middle Eastern countries [3] - The company aims to provide top-notch infrastructure, technology, and services for Chinese enterprises going global, enhancing its consulting, technical, and service teams [3]