I'm LongbridgeAI, I can summarize articles.UBS reports that DeepSeek has launched its DeepSeek V4 model, which includes two versions: V4-Flash and V4-Pro. The V4-Pro model is competitively priced and comparable to leading domestic AI models. UBS believes V4 will enhance the efficiency of Chinese models and boost domestic computing resource adoption. The bank remains optimistic about Zhipu AI, MiniMax-W, Alibaba, and Baidu, citing their strengths in coding, multimodal areas, and cloud and chip businesses. Investment ratings are positive for all mentioned companies, with target prices set for Zhipu AI, MiniMax, Alibaba, and Baidu.
UBS said in a report that DeepSeek has launched a preview version of its DeepSeek V4 model and open-sourced the model. Unlike previous single-model upgrades, V4 offers two versions, namely V4-Flash and V4-Pro.
In terms of model capability, data from Artificial Analysis show that the overall intelligence level of V4-Pro is broadly comparable to the flagship models of emerging domestic AI laboratories. On pricing, the premium V4-Pro is priced slightly higher than GLM-5.1, but is cheaper after limited-time promotional discounts; meanwhile, the cost-effective V4-Flash demonstrates strong price competitiveness among both domestic and overseas models. In addition, V4 has been optimized for agent-based products such as OpenClaw, Claude Code, OpenCode and CodeBuddy, underscoring a shift in interaction models from chatbots to action-oriented workflows.
UBS expects DeepSeek V4 to further consolidate the efficiency advantages of Chinese models and accelerate the adoption of domestic computing resources. Given V4's tiered strategy and surging AI demand, the bank is not overly concerned about intensifying domestic competition. It remains positive on Zhipu AI (02513.HK) -34.500 (-3.690%) Short selling $606.11M; Ratio 20.478% for sustaining its leading position in coding; MiniMax-W (00100.HK) -104.500 (-13.441%) Short selling $714.77M; Ratio 35.231% for its differentiated positioning in multimodal areas not particularly emphasized by V4; and Alibaba-W (09988.HK) +0.500 (+0.379%) Short selling $1.39B; Ratio 16.756% and Baidu-SW (09888.HK) +5.000 (+4.119%) Short selling $477.94M; Ratio 42.915% for their strengths in cloud and chip businesses benefiting from industry tailwinds.
StockInvestment RatingTP
Zhipu AI (02513.HK) -34.500 (-3.690%) Short selling $606.11M; Ratio 20.478% BuyHKD1,160
MiniMax (00100.HK) -104.500 (-13.441%) Short selling $714.77M; Ratio 35.231% BuyHKD1,000
Alibaba (BABA.US) BuyUSD170
Baidu (BIDU.US) BuyUSD170
(fc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-24 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
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