Chinese tech companies, including Alibaba's Qwen 3.5 and ByteDance's video-generating Seedance 2.0, have released their own generative artificial intelligence models in the past few weeks. MiniMax, which only went public in Hong Kong in January, released its M2.5 model in mid-February, which outperforms Claude's Opus 4.6 at a lower price, has attracted developers to choose MiniMax over DeepSeek's V3.2 model. UBS stock analysts have highlighted MiniMax's potential upside in gaining share in the global enterprise market, with its AI usage already reaching one-third of Anthropic's Claude, at one-tenth the price. The investment bank initiated coverage of the Chinese stock with a buy rating and a price target of 1000 Hong Kong dollars ($127.83). This is an upside of more than 30% from the HKD763.50 where the Shanghai-based company traded. However, if MiniMax continues to grow faster than expected, its stock could rise, it could reach 3% of the global market for enterprise services.