MiniMax
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MiniMax’s Hong Kong IPO Ignites, Adding to China’s AI Listing Boom
MiniMax Group Inc. debuted on the Hong Kong Stock Exchange with a 90% surge, raising HK$4.8 billion. This AI startup, specializing in large language models (LLMs), is the second major Chinese LLM developer to go public, following Zhipu AI. Backed by Alibaba and Tencent, MiniMax aims to compete with U.S. AI giants. The IPO funds will boost R&D, underscoring investor confidence in China’s AI sector despite geopolitical hurdles and semiconductor import restrictions.
