MiniMax rises 6.5%, Baidu climbs 4.6% after OpenAI unveils GPT-6

OpenAI unveiled GPT-6 Astra on Thursday. Chinese AI stocks rose in Hong Kong on Friday, with MiniMax up 6.5% to HK$378 and Baidu up 4.6%. Kuaishou advanced 4.2%, JD.com added 4.1% and Xiaomi rose 3.9%.

OpenAI describes Astra as designed for difficult end-to-end work and complex, multi-step professional tasks. The model is built to aid coding, research, web browsing and general computer use. It can operate across software environments and offers a 1.05 million-token context window intended for longer workflows.

Traders and analysts linked the stock moves to expectations about demand for autonomous agents and enterprise application programming interfaces. Market participants said improved agent capabilities could increase API consumption and enterprise deployments.

Huatai Securities wrote that foundation-model competition is moving toward “commercialization driven by high-value scenarios, enterprise markets, and usage volume.” The brokerage noted that Chinese developers including MiniMax and Zhipu are concentrating on APIs, coding tools and autonomous agents as commercial channels.

MiniMax reported first-half revenue of $116.6 million, up 283.1% year-on-year. Revenue from its Open Platform and other AI-based enterprise services rose 703.1% to $73.9 million, reflecting higher API volumes and enterprise adoption. Citi analyst Alicia Yap maintained a Buy rating and raised her target to HK$576 from HK$533. Jefferies analyst Thomas Chong kept a Buy rating and lifted his target to HK$533 from HK$506.

Baidu reported second-quarter AI Cloud Infrastructure revenue of 7.3 billion yuan, up 50% year-on-year, and GPU Cloud revenue that rose 283%. Bank of America analyst Miranda Zhuang retained a Buy rating but lowered her target to $141 from $165. Susquehanna cut its price target to $105 from $140 and kept a Neutral rating, noting strong momentum in Baidu’s AI Cloud Infrastructure and GPU Cloud while online advertising remains a headwind.

Investors will watch upcoming quarterly results, API usage figures and cloud revenue trends to assess whether demand for agent technology leads to sustained enterprise contracts and recurring consumption across the sector.