Meta partners with US nuclear companies to power AI data centers<\/a><\/p>\nCo-founder and COO Yun Yeyi told Bloomberg that MiniMax had only spent around US$500 million to make optimisation and creative innovations.<\/p>\n
Proceeds from the IPO will be used for its research over the next five years to develop foundation models and AI-native products, the firm said.<\/p>\n
MiniMax’s team includes researchers who previously worked for tech giants such as Google and Microsoft as well as China’s Alibaba and DeepSeek.<\/p>\n
‘Early stage’<\/p>\n
Revenue from overseas markets grew from US$100,000 in the nine months ending September 2024 to US$7.8 million during the same period in 2025, the firm said.<\/p>\n
It recorded net losses of $512 million in September 2025.<\/p>\n
MiniMax said it may continue to record net losses as it is still expanding and investing to support its long-term growth.<\/p>\n
The startup also faces a US$75 million copyright lawsuit from Disney, Universal, and Warner Bros. Discovery over its video-generating tool.<\/p>\n
The firm has maintained “there is insufficient evidence to support” the claims.<\/p>\n
Analysts told AFP that profits were unlikely any time soon from Zhipu and MiniMax, the so-called Chinese “AI tigers” who compete with tech giants such as Alibaba and ByteDance.<\/p>\n
Friday’s shares performance shows investors have a “strong appetite for China’s tech sector and the AI story”, Gary Ng, senior economist at Natixis Corporate and Investment Banking, told AFP.<\/p>\n
The whole AI sector is still at an early stage of development, which requires massive investment, he said, adding that profitability is “not the primary focus” for these startups.<\/p>\n
“It is about the prospect of which country or firm has the upper hand in gaining market share and staying ahead of the tech curve,” he added.<\/p>\n
The large language model market in China is estimated to grow to 101.1 billion yuan (US$14.5 billion) by 2030, according to consultancy Frost and Sullivan.<\/p>\n
AI will cumulatively contribute US$19.9 trillion to the global economy through 2030 and drive 3.5 percent of global GDP in that year, according to International Data Corporation.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
MiniMax’s team includes researchers who previously worked for tech giants such as Google and Microsoft as well as China’s Alibaba and DeepSeek. PHOTO: South China Morning Post Shares in Chinese AI startup MiniMax soared 109 percent as it went public in Hong Kong on Friday, raising US$619 million in a sign that strong investor demand […]<\/p>\n","protected":false},"author":2,"featured_media":103534,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.tribune.com.pk\/media\/images\/minimax1767987579-0\/minimax1767987579-0-640x480.webp","fifu_image_alt":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-103533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/103533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=103533"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/103533\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/103534"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=103533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=103533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=103533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}