As a global ‘sovereign AI premium’ emerges and US weaponisation of AI models triggers panic, Hong Kong can bridge diverging AI ecosystems
The market realignment over the past week starkly captures the self-defeating logic of America’s technology containment strategy.
surged by 48 per centintraday after it announced the open-source release of its GLM-5.2 foundation model. The rally continued this week, with Zhipu’s shares trading at an
intraday highof HK$2,980 (US$380) in the morning of June 22, briefly driving market capitalisation past HK$1.2 trillion – a 25-fold appreciation on its January debut.
orderedCalifornia-based Anthropic to block foreign access to its new Fable 5 and Mythos 5 models. Because Anthropic could not practically verify user nationalities in real time, it had to shut down both flagship models globally for everyone, lock out its own non-American staff and downgrade affected subscribers to an older model.
Although Washington blamed a “jailbreak” security vulnerability, Anthropic’s technical review showed the exploit involved only minor flaws that already exist in other publicly available models.
The situation is profoundly ironic. Anthropic supported Washington’s export controls, actively lobbying for stricter cross-border limits. Having helped build this regulatory framework, the company is now trapped by it, exposing a fundamental flaw in techno-nationalist logic. Washington treats software models like physical nuclear components, yet software cannot be embargoed like hardware. Because code moves instantly, denying access simply drives other nations to develop alternative technologies more quickly.
restrictedNvidia’s advanced silicon, expanded its
blacklistand globalised these controls by bringing foundational open-source models under its restrictive umbrella.