MINIMAX-WP experienced a significant surge intraday, with shares soaring 18.34% in afternoon trading. The dramatic move came amid heightened market activity surrounding the AI-focused company.

The sharp increase appears driven by multiple positive factors. Major strategic shareholders Alibaba and miHoYo have explicitly expressed long-term confidence in MINIMAX-WP's development prospects and committed to continuing their support for the company's growth. This shareholder vote of confidence comes ahead of the company's first post-listing lock-up period expiry, helping to alleviate concerns about potential selling pressure.

Additional catalysts include the potential inclusion of MINIMAX-WP in the Southbound Stock Connect scheme as early as August, which analysts believe could provide significant liquidity support. The company also reported strong financial metrics, with annual recurring revenue reaching $400 million as of April, and management expressed confidence in achieving at least $1 billion in ARR by year-end. Positive developments around the company's recently launched M3 model, a native multimodal system with 428 billion parameters, further contributed to investor optimism.