BREAKING
Pair Trade: Long Zhipu, Short MiniMax
Opposite paths since end-March
Zhipu
139
MiniMax
-52
0
B
Zhipu mkt cap (HK$)
0
B
MiniMax mkt cap (HK$)
0
x
Zhipu vs MiniMax
Two firms, two characters
Zhipu
GLM-5.1
●
95.3% on AIME 2026
●
Strong reasoning and coding
●
Government-linked ties
MiniMax
M2 series
●
80.2% SWE-bench Verified
●
Roughly one-third the token cost
●
Favored for coding agents
IPO lockup expiry in early July
Valuation tug-of-war continues
AI NEWS BLITZ
Investors in China's AI sector are betting on Zhipu while shorting MiniMax.