Alibaba Cloud said on July 28 that its Zhenwu M890 supernode instance has been adapted to Moonshot AI's Kimi3 model, making it the first supernode in China to run a nearly 3 trillion-parameter model. After the adaptation, first-token latency fell by about 35%, and Qwen AI Platform and Alibaba Cloud Bailian will also provide Kimi3 model APIs, according to Jiemian News. Changjiang Securities said global large-model call volume rose sharply in the first half of 2026, with token consumption expanding exponentially and supporting lighter-asset models such as compute leasing and token operations; it also said Tencent, Alibaba and ByteDance are making fast progress in AI Agent development. As of 1:17 p.m. on July 29, 2026, the CSI Hong Kong Connect Internet Index rose 2.57%, while the Penghua HK Connect Internet ETF climbed 3.51% to 1.15 yuan. The ETF tracks the index, which selects 30 Hong Kong-listed companies engaged in internet-related businesses. As of June 30, 2026, the index's top 10 holdings had a combined weight of 77.21%.