MiniMax Stock Surges on Rapid Adoption of New H3 AI Model

Shares of Chinese AI company MiniMax surged 12.8% to close at HK$259.6 on Wednesday, driven by investor optimism following the rapid adoption of its latest open-source artificial intelligence model, H3.

Ecosystem Adoption Fuels Rally

The rally gained momentum after MiniMax reported on August 4, 2026, that its H3 model had achieved a significant integration milestone. The company stated that more than 100 domestic and international partners adopted the model within the first 24 hours of its release.

Market participants view this swift uptake as a strong indicator of the model's commercial viability and competitive strength in China's fast-evolving AI sector. The partner network includes key players across the technology stack:

• Hardware: Nine chip manufacturers, including Huawei Ascend, Moore Threads, AMD, and Intel, have completed hardware-level adaptations to support H3.
• Developer Communities: Prominent platforms such as Hugging Face are also among the early adopters.

Analyst Coverage Adds to Momentum

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Adding to the positive sentiment, investment firm Bernstein SocGen initiated coverage on MiniMax with a "Market Perform" rating and a price target of HK$275. The initiation brought fresh institutional attention to the stock.

In its research note, Bernstein provided a bullish outlook for the broader industry, estimating that China’s AI market could eventually generate between $100 billion and $200 billion in annual revenue. The firm also initiated coverage on rival Z.ai with an "Outperform" rating, signaling growing investor interest in the sector.

Market Context

MiniMax's significant gains stood in contrast to the broader market's performance. The Hang Seng Index in Hong Kong posted a modest gain of just 0.3% during the same session. MiniMax's rival, Z.AI, also recorded strong gains for the day, highlighting a pocket of strength in the AI technology space.