Hong Kong Stock: Smart Stock Soars Over 16% Intraday, Total Market Value Reaches 1 Trillion Hong Kong Dollars

BlockBeats News, June 24th, according to Bitget market data, Hong Kong stock Intellisys (02513.HK) surged over 16% intraday, currently up 13.73%, with a stock price of 2472 Hong Kong dollars, and a total market value exceeding 1 trillion Hong Kong dollars.

Some views believe that the current global AI stock market downturn is the "DeepSeek moment" for Intellisys, a replay of the AI stock market crash caused by the initial release of DeepSeek 25 years ago, where the open-source model was too powerful, leading to market doubts about American AI. Investment bank Jefferies stated in a report that Intellisys' GLM-5.2 has now entered the global top three large model rankings. Nathan Lambert, Senior Research Scientist at the Allen Institute for AI and author of Interconnects, referred to it as a "step change" for open-source intelligent agent models, drawing parallels between the market's reaction and the impact triggered by DeepSeek R1 early in 2025. This technical discussion was quickly picked up by the market media. Barron's attributed the Tuesday tech stock decline to a return of concerns about "cheap Chinese AI," acknowledging that this downturn resembled a replay of the January DeepSeek shock. Gavekal Research analyst Will Denyer was quoted as saying that GLM-5.2 represents one of the most impressive challenges from China to America's AI dominance to date. For investors, the question is not just about Chinese models becoming stronger, but whether the more affordable open-source models are good enough and if the hundreds of billions of dollars spent by American tech giants on data centers can still support their current valuations.