By futureTEKnow | Editorial Team
MiniMax, a rapidly growing Chinese artificial intelligence startup, has taken a major step toward the public markets by confidentially filing for an initial public offering (IPO) in Hong Kong. The company is targeting an eye-popping valuation of over $4 billion with plans to raise as much as HK$5 billion (approximately $637 million) before the end of the year.
Founded in Shanghai by former SenseTime executive Yan Junjie, MiniMax stands out in China’s expanding field of generative AI companies. Since its launch, the company has:
Attracted investments from heavyweights like Alibaba and Tencent.
Raised more than $850 million since 2023.
Developed advanced, multimodal AI platforms capable of processing text, audio, images, video, and music.
Achieved impressive reach, serving 157 million users in over 200 countries and 50,000+ enterprises across more than 90 countries.
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MiniMax’s star has risen quickly in the wake of China’s vibrant AI boom. Key highlights:
The flagship models—MiniMax M1, Hailuo-02, Speech-02, and Music-01—put the company at the forefront of AI research and commercialization.
Endorsements and fresh capital from Alibaba, Tencent, Hillhouse Investment, and others have fueled MiniMax’s expansion.
The company’s global footprint and its commitment to multimodal technology set it apart in an increasingly competitive market.
MiniMax enters the IPO process alongside other notable Chinese AI firms. In 2025, investor interest in local AI innovations has surged following headline-making breakthroughs by platforms such as DeepSeek (China’s ChatGPT equivalent). Competitors like Zhipu AI are also pursuing listings, signaling a broader shift towards domestic capital markets for high-tech IPOs.
China International Capital Corp (CICC) and UBS have been recruited as sponsors for MiniMax’s offering. While market conditions could cause the final IPO size or valuation to fluctuate, industry insiders note that MiniMax is among the first batch of generative AI firms aiming for public listings in Hong Kong.
MiniMax’s IPO represents a major milestone not only for the company but also for China’s ambitions in artificial intelligence. As policy support in Beijing intensifies, innovators like MiniMax are set to shape the next chapter of global AI competition.
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