BlockBeats News, December 30th. According to Bloomberg, Chinese artificial intelligence startup MiniMax has secured Alibaba Group Holding Limited and the Abu Dhabi Investment Authority as key backers for its upcoming Hong Kong IPO. Sources revealed that MiniMax plans to raise over $600 million through this IPO, with the earliest start of investor subscription for shares commencing this Wednesday and listing in January.
MiniMax, a leading general artificial intelligence startup in China (full name Shanghai Xiyu Technology Co., Ltd.), was founded in December 2021 and is headquartered in Shanghai. The company’s mission is “Intelligence with Everyone,” dedicated to developing multimodal general large models, advancing artificial general intelligence (AGI), and ranking among the top players in China’s domestic generative AI field alongside Zhuiyi AI, Dark Matter AI, and Baichuan Intelligence.
