On October 8, according to Bitget market data, Hong Kong AI concept stocks generally fell, with MINIMAX dropping over 10%, Zhiyu falling over 6%, and XunCe declining nearly 5%. Baidu and Meituan also experienced slight declines. In recent news, overseas large models have been in a continuous price-cutting trend, with Anthropic launching its next-generation model Haiku 5.5 and reducing inference costs. OpenAI has also introduced lower-priced versions of GPT-6, Sol, and Luna, with the price of the Luna API dropping by 50% compared to the previous GPT-5.6 series. The market is concerned that as the performance of overseas cutting-edge models continues to improve and API prices rapidly decrease, domestic large models will face more direct price competition pressure. Particularly, after currency conversion, some overseas model products priced in US dollars are now lower than similar domestic models, putting further pressure on the competitive barriers that domestic models previously established through localization and price advantages. Previously, domestic models like DeepSeek have already been pushing API prices down, and the industry price war is extending from the domestic market to the global market. The price cuts of overseas models may not only compress the pricing space for domestic models but also lead the market to reassess the commercialization capabilities, profit margins, and valuation levels of large model companies like Zhiyu and MiniMax.