The movement of Zhipu today is quite interesting. A few days ago, we were still enjoying Dad's milk tea, but today it feels like we're old and broke. Once you miss it, you miss it. If you don't understand, just ask. Putting these four together — $BABA-W(09988.HK) $TENCENT(00700.HK) $KNOWLEDGE ATLAS(02513.HK) $MINIMAX-W(00100.HK) — under the CN narrative, the hype around "AI selling shovels" has actually shifted. It's not that they're not selling shovels anymore, but rather that the shovels are being treated, managed, and priced as "public infrastructure"...