Chinese AI firms have become one of Asia’s most volatile equity segments, with half of the region’s top 10 most volatile stocks being recent IPOs, driven by retail trading and AI hype. Moore Threads surged over 700% in five days before halving, while MiniMax has gained more than 450% since its January debut. Low institutional ownership—about 9.3% for MiniMax—has amplified sharp intraday swings versus peers like Alibaba. Analysts including Jasmine Duan at RBC Wealth Management warn valuations are

Chinese AI firms have become one of Asia’s most volatile equity segments, with half of the region’s top 10 most volatile stocks being recent IPOs, driven by retail trading and AI hype. Moore Threads surged over 700% in five days before halving, while MiniMax has gained more than 450% since its January debut. Low institutional ownership—about 9.3% for MiniMax—has amplified sharp intraday swings versus peers like Alibaba. Analysts including Jasmine Duan at RBC Wealth Management warn valuations are highly sensitive to sentiment given unproven business models, while Luo Jing at Value Partners highlighted competition and infrastructure advantages of incumbents, and Daniel So at Goldhorse said uncertainty over profitability will keep volatility elevated.