Hong Kong AI Concept Stock Daily: ILUVATAR COREX Rises 15.49% on Institutional Support for Domestic Compute - 20261110

NewTimeSpace · 2026/11/10 17:38 · By Xuran Lin

On November 10, the HSI rose 0.44% and the HSTECH 1.08%, as 18 of the 20 AI concept stocks advanced; ILUVATAR COREX led at 15.49% and Z.AI rose 11.11%.

Key Highlights:

all three indices opened higher, faded after an early push and stabilised in the afternoon; the HSI closed at 24,557.04, up 0.44%, the HSTECH at 4,084.45, up 1.08%, and the HSCEI at 8,265.81, up 0.07%; full-day HSI turnover reached HKD 178.2 billion, slightly above HKD 173.7 billion a day earlier.
18 of the 20 names rose, led by ILUVATAR COREX at 15.49%, followed by Z.AI at 11.11%, MINIMAX-W at 10.11%, ROBOSENSE at 9.50% and BIRENTECH at 9.05%; BABA-W fell 2.87% at the bottom and TENCENT slipped 0.14%. All six AI chip names, all five autonomous driving names and both embodied AI names advanced, while five of seven LLM names rose.
the Nasdaq rose 2.74% and the Philadelphia Semiconductor Index 6.85% overnight, lifting the Hong Kong AI hardware chain; Huafu Securities cited inference demand and cloud capex, with IDC expecting 19% growth in China AI accelerator shipments in 2026; Anthropic released Claude Fable 5.2 and Mythos 5.2; Jiangsu Xinde Semiconductor Technology rose 28.38% on debut while the GPU newcomer fell 7.79%.

I. Market Overview

On November 10, 2026, the three major Hong Kong indices opened higher across the board, faded after an early push, stabilised in the afternoon and closed modestly higher. The Hang Seng Index closed at 24,557.04, up 0.44%; the Hang Seng TECH Index closed at 4,084.45, up 1.08%; and the Hang Seng China Enterprises Index closed at 8,265.81, up 0.07%. Full-day turnover on the Hang Seng Index reached HKD 178.2 billion, slightly above HKD 173.7 billion a day earlier. Of the 20 AI concept stocks, 18 advanced and 2 declined, with AI chips, autonomous driving and embodied AI all rising across the board while LLM names diverged.

In the LLM space, Z.AI (02513.HK) rose 11.11%, MINIMAX-W (00100.HK) rose 10.11%, BIDU-W (09888.HK) rose 1.53%, KUAISHOU-W (01024.HK) rose 0.56%, MEITUAN-W (03690.HK) rose 0.47%, TENCENT (00700.HK) fell 0.14% and BABA-W (09988.HK) fell 2.87%; five of the seven names advanced.

In the AI Chips space, ILUVATAR COREX (09903.HK) rose 15.49%, BIRENTECH (06082.HK) rose 9.05%, MONTAGETECH (06809.HK) rose 6.06%, HUA HONG GRACE (01347.HK) rose 3.76%, GIGADEVICE (03986.HK) rose 3.13% and SMIC (00981.HK) rose 2.61%; all six names advanced.

In the Autonomous Driving space, ROBOSENSE (02498.HK) rose 9.50%, HORIZONROBOT-W (09660.HK) rose 7.48%, BLACK SESAME (02533.HK) rose 3.97%, PONY-W (02026.HK) rose 3.55% and WERIDE-W (00800.HK) rose 2.39%; all five names advanced.

In the Embodied AI space, UBTECH ROBOTICS (09880.HK) rose 6.90% and XIAOMI-W (01810.HK) rose 1.66%; both names advanced.

II. Market Performance of Representative AI Stocks

Stock Code	Company Name	Closing Price (HKD)	Change(%)	Sector / Concept
09903.HK	ILUVATAR COREX	70.100	15.49	AI Chips
02513.HK	Z.AI	482.000	11.11	LLM
00100.HK	MINIMAX-W	173.100	10.11	LLM
02498.HK	ROBOSENSE	16.590	9.50	Autonomous Driving
06082.HK	BIRENTECH	21.080	9.05	AI Chips
09660.HK	HORIZONROBOT-W	3.950	7.48	Autonomous Driving
09880.HK	UBTECH ROBOTICS	75.150	6.90	Embodied AI
06809.HK	MONTAGETECH	190.800	6.06	AI Chips
02533.HK	BLACK SESAME	6.540	3.97	Autonomous Driving
01347.HK	HUA HONG GRACE	74.550	3.76	AI Chips
02026.HK	PONY-W	36.760	3.55	Autonomous Driving
03986.HK	GIGADEVICE	303.000	3.13	AI Chips
00981.HK	SMIC	47.240	2.61	AI Chips
00800.HK	WERIDE-W	11.550	2.39	Autonomous Driving
01810.HK	XIAOMI-W	30.600	1.66	Embodied AI
09888.HK	BIDU-W	79.700	1.53	LLM
01024.HK	KUAISHOU-W	28.980	0.56	LLM
03690.HK	MEITUAN-W	75.500	0.47	LLM
00700.HK	TENCENT	417.800	-0.14	LLM
09988.HK	BABA-W	101.600	-2.87	LLM

Data Source: HKEX. For reference only, not investment advice. Data as of market close on November 10, 2026.

III. AI Industry & Corporate Developments

1. Overnight Nasdaq Gains 2.74% and the SOX 6.85% as Hong Kong AI Hardware Rebounds

On November 9 US time, the three major US indices closed higher, with the Nasdaq up 2.74%, its largest single-day gain since July 30, and the Philadelphia Semiconductor Index up 6.85%. Hong Kong AI hardware names rebounded in response on November 10, led by semiconductors, memory, PCB and optical communication: the newly listed Jiangsu Xinde Semiconductor Technology surged on debut, VIEWTRIX TECH and ILUVATAR COREX rose more than 10%, GPIXEL and MONTAGETECH gained over 6%, ZHONGJI INNOLIGHT rose more than 8% and CIG and YOFC gained over 5%. The Hang Seng TECH Index closed up 1.08%, outperforming the 0.44% gain in the Hang Seng Index.

2. ILUVATAR COREX Rises 15.49% as Brokers Point to Inference Demand and Cloud Capex

On November 10, ILUVATAR COREX (09903.HK) rose 15.49% to HK$70.10 on turnover of HK$855 million, the largest gainer in the AI concept pool. A Huafu Securities research note said rising inference volumes are converging with cloud providers' capital expenditure, with strong demand for AI data centres and domestic chips. Reuters, citing IDC, expects China's overall AI accelerator shipments to grow 19% year on year in 2026, with domestic chips taking a larger share. Hong Kong semiconductor names advanced in tandem, with BIRENTECH up 9.05%, MONTAGETECH 6.06%, HUA HONG GRACE 3.76% and SMIC 2.61%.

3. Anthropic Releases Claude Fable 5.2 and Mythos 5.2 as Z.AI Gains 11.11% and MINIMAX-W 10.11%

On November 9 US time, Anthropic, which is preparing an IPO, upgraded its Claude Fable and Claude Mythos models, releasing Claude Fable 5.2 and Claude Mythos 5.2. The company said the new models support long-horizon collaboration among 1,000 agents, show gains in complex coding, scientific reasoning, chart comprehension and robot control tests, deliver up to 30% faster output than the previous generation and cut standard API pricing by 20%. On the IPO, media reports said the 15-day quiet period following its filing ends this week, after which the company plans to launch its roadshow, price in the week of November 16 and list on the Nasdaq Global Select Market under the ticker ANT. Hong Kong LLM names rallied, with Z.AI up 11.11% to HK$482.00 on HK$4.177 billion of turnover and MINIMAX-W up 10.11% to HK$173.10 on HK$2.612 billion.

4. Jiangsu Xinde Semiconductor Technology Rises 28.38% on Debut as a Peer GPU Newcomer Slips

On November 10, Jiangsu Xinde Semiconductor Technology (07672.HK) and a GPU chip newcomer (09917.HK) both listed on the Hong Kong Stock Exchange. Xinde, which priced its offering at HK$8.88 per share, opened 20.50% higher, peaked almost 40% above its issue price during the session and closed up 28.38%. The company provides packaging design, customised packaging products and packaging testing services, covering QFN, BGA, LGA, WLP and 2.5D/3D technologies; it sold 106.56 million H shares, raising gross proceeds of about HK$946 million. The GPU newcomer closed down 7.79% on its first day. The divergent debuts suggest investors are becoming more selective about semiconductor new listings.

5. Google Launches Two Eighth-Generation TPU Variants as Custom Silicon Competition Intensifies

On November 9 US time, Google announced two new variants of its eighth-generation TPU, TPU 8tx and TPU 8i Max. According to media tallies, the company has released four TPU products within a year, pressing ahead with custom silicon and competing systematically with Nvidia in the AI accelerator market. Institutional views hold that compute spending by leading model developers and cloud providers is still expanding, and that the contest between custom chips and general-purpose GPUs will lift demand for advanced process nodes, advanced packaging and high-bandwidth memory.

IV. Profiles of Representative AI Concept Stocks

Company Name	Stock Code	Industry Position	Main Product Lines & Business Overview
ILUVATAR COREX	09903.HK	Domestic general-purpose GPU pioneer and builder of full-scenario AI compute bases	Established in 2015, it is among the earliest domestic vendors to achieve mass production of general-purpose GPUs. Product lines cover training, inference, and edge computing across the Tiangai, Zhikai, and Tongyang series. In July 2026, it launched its next-gen flagship Tiangai 300 at WAIC, matching the Nvidia Hopper architecture. As of late 2025, it served 340+ clients across 30+ industries, generating core GPGPU revenue of about RMB 923 million (+149.6% YoY).
Z.AI	02513.HK	A leading player in China's independent LLM sector	Has launched its flagship next-gen model GLM-5.2, achieving open-source SOTA performance in coding and agentic capabilities. In partnership with Huawei, it open-sourced the multimodal image model GLM-Image. Focusing on novel model architectures, universal reinforcement learning paradigms, and autonomous model evolution, its business model closely aligns with enterprise AI productivity adoption.
MINIMAX-W	00100.HK	A top-tier player dedicated to omni-modal AGI	The company continuously iterates its video generation model matrix and has partnered with mainstream domestic and overseas chip manufacturers and inference platforms to complete underlying adaptations. The total monthly active users (MAU) of its B2C and B2B LLM applications, along with multimodal API call volumes, maintain rapid growth, further broadening its computing power ecological layout.
ROBOSENSE	02498.HK	Leader in mass production and delivery of automotive LiDAR and core perception solutions	The company has secured platform orders from numerous global mainstream automakers and EV startups. Quarterly automotive LiDAR shipments continue to outpace industry growth, while process optimization and economies of scale have driven per unit costs consistently downward, reinforcing its market position as the core perception foundation for intelligent driving. In the first three quarters of 2026, cumulative LiDAR sales reached 1.3148 million units, including 427,800 units for robotics applications.
BIRENTECH	06082.HK	China's pure-play leader in high-end general-purpose GPU (GPGPU)	Founded in 2019 and listed on the HKEX in January 2026 as the first GPU stock in Hong Kong, the company focuses on GPGPU chip R&D and sales, competing head to head with Nvidia in data center grade AI training and inference GPUs. It has launched the BR106 and BR110 core chips and the BR166 chip co-packaged via Chiplet technology, offering a complete solution encompassing GPGPU hardware and the BIRENSUPA software platform. Its products have been deployed across multiple domestic AI computing clusters, with the next generation BR20X chip planned for 2026.

AI ILUVATAR COREX MINIMAX-W