Core Insights - The article discusses the transition of the AI large model industry from a phase of intense competition to a period focused on commercial validation, highlighting the distinct paths taken by two companies, Zhiyu and MiniMax, as they went public in the Hong Kong market [2][17]. Group 1: Business Models and Strategies - Zhiyu adopts a "MaaS" (Model as a Service) approach, focusing on becoming a foundational infrastructure for various industries, emphasizing stability and long-term value [3][5]. - MiniMax, on the other hand, pursues a global C-end strategy, leveraging product innovation and market speed to establish a competitive edge, with a significant portion of its revenue coming from overseas markets [3][5][27]. - Both companies' paths reflect their strategic judgments regarding different stages of AI commercialization, with no absolute superiority between the two approaches [4][6]. Group 2: Financial Performance - Zhiyu's revenue grew from 57.4 million yuan in 2022 to 312.4 million yuan in 2024, with a compound annual growth rate of 130%, and a projected revenue of 738 million yuan in 2025 [7][8]. - MiniMax's revenue surged from 3.5 million USD in 2023 to 30.5 million USD in 2024, marking a year-on-year growth rate of 782.2% [8]. - Both companies face significant losses, with Zhiyu accumulating over 6.2 billion yuan in losses from 2022 to mid-2025, and MiniMax's losses reaching approximately 9.3 billion yuan during the same period [9][10]. Group 3: Industry Trends and Market Dynamics - The successful IPOs of Zhiyu and MiniMax signify a shift in the AI large model industry, moving away from the "parameter competition" era towards a more rational investment landscape [17][21]. - The market is witnessing a clear differentiation among AI companies, with some exiting direct competition in favor of niche markets, while others, like Zhiyu and MiniMax, demonstrate viable business models and growth potential [18][22]. - Major internet companies are entering the AI space, altering the competitive landscape with their resources and strategies, which creates a disparity in competition between established giants and startups [23][24]. Group 4: Future Outlook - The article concludes that the paths of Zhiyu and MiniMax illustrate the diverse possibilities within the AI industry, with both companies facing similar challenges of high operational costs and the need for sustainable profitability [29][30]. - The successful listings of these companies mark a new beginning in the AI competition, emphasizing the importance of technological assets and ecosystem potential in valuation [30][31].

🎁 Free tokens, last chance!$300 prize pool • 30 winners • Ends todayAscendEX (@AscendEX_):#AscendEX December Connect-the-Dots Challenge!💰 $300 in Tokens | 30 Winners📅 Event: 12/16 - 12/23✨ How to Join?1️⃣ Follow @AscendEX_2️⃣ Connect 6 new tokens with their logos on our poster3️⃣ Tag 3 friends, Like & RT this tweet + #AscendEX #NewTokens4️⃣ Submit Form: https://t.co/k32Wk6btBY ...

Avalanche Ecosystem Overview - Interchain Token Transfers (ICTTs) on Avalanche enable native and trustless token movement between Avalanche L1s using Interchain Messaging (ICM) [1] - This process eliminates the need for bridges, wrapped assets, or external validators [1] Interchain Messaging (ICM) Statistics - The Avalanche ecosystem has processed 289 million ICMs [1] - ICTTs account for 217 thousand, representing 75% of all ICMs [1] Top Transferred Token - The most frequently transferred token via ICTT is COQINU [1]

RT Derek Edws (@derekedws)easy to be bearish crypto right nowwe’re fifteen years inwe’ve spent enormous energy trying to build valuable stuff on top of trust-minimized technologythe results feel underwhelming- many tokens- few products with global impact- asset markets that reward local attention over durable value^ this view notwithstandingi think a large part of what feels brokenis pretty close to being solvednot by technologyi think we’ve got all the raw material we need for crypto to dominatethe last pi ...

🔥Get in the game!Connect tokens & win up to $300 in prizes!AscendEX (@AscendEX_):#AscendEX December Connect-the-Dots Challenge!💰 $300 in Tokens | 30 Winners📅 Event: 12/16 - 12/23✨ How to Join?1️⃣ Follow @AscendEX_2️⃣ Connect 6 new tokens with their logos on our poster3️⃣ Tag 3 friends, Like & RT this tweet + #AscendEX #NewTokens4️⃣ Submit Form: https://t.co/k32Wk6btBY ...

RT Felipe Montealegre (@TheiaResearch)Check out P/S multiples across the industry over the past 5 yearsThis is a simple market cap weighted P/S multiple for the top 100 projects on @tokenterminal excluding Layer 1sWhere is equilibrium? I think that depends on whether tokens end up subordinated to equity or not. https://t.co/dh9HlaPNhp ...

Based on the provided content, here's a summary of the key points: Token Stacking - The document asks for opinions on how to rank or stack different tokens [1]

Token Utility - Tokens can attract top-tier talent by offering immediate liquidity and inflated valuations, bypassing the need for traditional revenue models [1] - Tokens circumvent the legal complexities and costs associated with IPOs [1] - The volatility risk associated with tokens may be underestimated by individuals unfamiliar with the crypto space [1] Company Strategy - A CEO skilled in storytelling can leverage speculative premiums to significantly increase the company's perceived value [1] - Increased company value can be used for mergers and acquisitions, expanding the company's reach [1] - Tokenization can potentially increase a company's value by 500x through strategic hiring and acquisitions [1] Market Implications - The full implications of using tokens for company growth and expansion may be underestimated [1] - Ripple is presented as a potential example of a company utilizing this strategy [1]

i) TIL that Mcdonald's stock is on Solanaii) you can now have custom watchlists on a block explorer. an obvious thing that was missing for no reason.iii) this has now completely replaced Coinmarketcap for metag me if you are integrating Orb / have feature reqsmore comingOrb Markets (@Orb_Markets):NEWyou can now create your own custom watchlist on Orbadd any tokens you want, customize the name, and view from anywherestocks, commodities, currencies, memes, L1s, all in one placea million markets in your pocket ...

Overview - The report focuses on the top tokens swapped using the in-wallet swapper between December 8th and December 14th [1] - SOL and stablecoins are excluded from the analysis [1]