Changes in Hong Kong stocks | Big model duo strengthens, Smart Spectrum (02513) surges more than 10% intraday, Anthropic will sprint to IPO next week

The Zhitong Finance App learned that the big model concept strengthened, and Zhi Spectrum (02513) surged more than 10% intraday. As of press release, Smart Spectrum (02513) rose 8.44% to HK$470.4; MINIMAX-W (00100) rose 7.32% to HK$168.7.

According to reports, Anthropic's IPO process has entered the final sprint window. The 15-day silent waiting period after submitting an IPO application will officially end this week. The company will launch an official roadshow immediately after the waiting period ends. Pricing will be completed and officially listed on the NASDAQ Global Select Market during the week of November 16. The stock code is ANT. Notably, despite clear differences in expected valuations given by different institutional investors, Anthropic will still be one of the largest IPOs in US stock history.

Lyon previously pointed out that for China's big model, limited computing power enhances the value of architectural and reasoning innovation, while Anthropic's listing may establish a valuation anchor. Assuming Anthropic's market capitalization is between 1.2 trillion and 1.75 trillion US dollars, corresponding to an ARR of 80 billion to 100 billion US dollars at the end of the year, which is equivalent to 15 to 18 times the ARR multiple, which means that the smart spectrum has 31% to 53% upward space. Motong Daikon recently stated that the market is overly pessimistic about big models, remains optimistic about the sector, and uses intelligent spectral AI as the first choice.