{"id":"ee3b971a-6b67-43b9-bf0c-68db245ab3e7","kind":"companies","code":"UB-C171","name":"MiniMax","nameBasis":"source-english","summary":"Practical applications integrating multimodal AI technology.","description":"MiniMax was founded in 2021/12.","country":"China","category":null,"originalName":"MiniMax","eventDate":null,"website":"https://www.minimaxi.com/","sourceUpdatedAt":"2026-10-05T00:00:00.000Z","englishUpdatedAt":"2026-10-15T20:25:35.756Z","reviewedAt":"2026-10-15T20:25:35.756Z","snapshotAt":"2026-10-15T14:23:27.067Z","sourceHash":"1ec5e51b7789acbedf3c35912a30b697a83308822bed6cd578c216c0f3790d07","companyId":null,"foundedYear":2021,"logoUrl":"https://c.ux-cdn.com/1863156737900573-5aba7b40bf5e48ca8be5896e57b70eca/uniquebase%2Flogos%2Fcompany%2FreclcNRAgQ%2F7acb2f77d3889307a3b6a608533e2c578301641e1abba284e79404dc293ab4e5.png","originalText":"多模态AI技术一体化的应用实践\n\nMiniMax成立于2021年12月","sources":[],"related":[{"id":"c6f3368e-bc38-4391-aa92-92cc7fb37878","kind":"institutions","code":"UB-I002","name":"Alibaba","nameBasis":"transliterated","summary":"Alibaba Group, a leading Chinese internet technology company making strategic and financial investments through Alibaba Capital and Alibaba Investment, focused on e-commerce, cloud computing, logistics, AI, and other fields.","description":"Alibaba Group, a leading Chinese internet technology company making strategic and financial investments through Alibaba Capital and Alibaba Investment, focused on e-commerce, cloud computing, logistics, AI, and other fields.","country":null,"category":null,"originalName":"阿里巴巴","eventDate":null,"website":null,"sourceUpdatedAt":"2026-10-15T10:54:24.030Z","englishUpdatedAt":"2026-10-15T21:44:38.248Z","reviewedAt":"2026-10-15T21:44:38.248Z","snapshotAt":"2026-10-15T14:23:27.067Z","sourceHash":"b7a6508749b9129a373d49ac63c4be2e48a4d860250b7c00f681b62f4c68c87e","companyId":null,"foundedYear":null,"logoUrl":null,"path":"/institutions/alibaba"},{"id":"0b64076e-f2da-4e5c-af24-d9912f5e1eba","kind":"news","code":"0b64076e-f2da-4e5c-af24-d9912f5e1eba","name":"Alibaba leads MiniMax's USD 600 million Series B round at an approximately USD 2.5 billion post-money valuation","nameBasis":"translated-title","summary":"MiniMax, Xiyu Technology, completed USD 600 million in Series B funding in 2024/3, led by Alibaba at a post-money valuation of approximately USD 2.5 billion.","description":"","country":null,"category":null,"originalName":"阿里巴巴领投MiniMax 6亿美元B轮融资，投后估值约25亿美元","eventDate":"2024-03-07T00:00:00.000Z","website":"https://m.36kr.com/p/2678677346318082","sourceUpdatedAt":"2026-10-15T11:48:28.720Z","englishUpdatedAt":"2026-10-15T22:11:11.696Z","reviewedAt":"2026-10-15T22:11:11.696Z","snapshotAt":"2026-10-15T14:23:27.067Z","sourceHash":"d166573516ae644699059f4fea94edac510f137f2bfdb2d1d9a35bca2596434f","companyId":"ee3b971a-6b67-43b9-bf0c-68db245ab3e7","foundedYear":null,"logoUrl":null,"path":"/news/0b64076e-f2da-4e5c-af24-d9912f5e1eba"},{"id":"654349c6-fd2e-4500-a7b7-c3e545f34ede","kind":"institutions","code":"UB-I049","name":"Gaoling Venture Capital","nameBasis":"transliterated","summary":"A venture capital platform under Hillhouse focused on early- and growth-stage technology and healthcare enterprises.","description":"A venture capital platform under Hillhouse focused on early- and growth-stage technology and healthcare enterprises.","country":null,"category":null,"originalName":"高瓴创投","eventDate":null,"website":null,"sourceUpdatedAt":"2026-10-15T10:54:25.130Z","englishUpdatedAt":"2026-10-15T21:28:29.607Z","reviewedAt":"2026-10-15T21:28:29.607Z","snapshotAt":"2026-10-15T14:23:27.067Z","sourceHash":"7fd6fdd8d780de44580b114359860fd3320ef434794ac79a06928f749329af57","companyId":null,"foundedYear":null,"logoUrl":null,"path":"/institutions/gaoling-venture-capital"},{"id":"636b84d4-66d0-4a0a-9f7b-a0fa5a949c1d","kind":"products","code":"UB-D965","name":"Glow","nameBasis":"original-brand","summary":"MiniMax was founded in 2021/12.","description":"MiniMax was founded in 2021/12.","country":null,"category":"AI companions","originalName":"Glow","eventDate":null,"website":null,"sourceUpdatedAt":"2026-10-11T18:07:18.814Z","englishUpdatedAt":"2026-10-15T19:38:41.010Z","reviewedAt":"2026-10-15T19:38:41.010Z","snapshotAt":"2026-10-15T14:23:27.067Z","sourceHash":"90549feca608597ba1b7b0a7ddde55e757078a4a31d606cb8c19fd04da26bed5","companyId":"ee3b971a-6b67-43b9-bf0c-68db245ab3e7","foundedYear":null,"logoUrl":null,"path":"/products/glow"},{"id":"cde5b3aa-10a5-4ece-a9d0-437daa1e6e89","kind":"news","code":"cde5b3aa-10a5-4ece-a9d0-437daa1e6e89","name":"Glow discloses latest business progress","nameBasis":"translated-title","summary":"On 2024/11/9, X reported that startup Glow had announced its latest business progress without directly quantifiable revenue or funding amounts. 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Total revenue in the first half of 2026 was USD 116.6 million, up 283.1% year over year, with 60.8% from outside mainland China. The AI-native product line that includes Hailuo AI generated USD 42.64 million in revenue, up 100.9% year over year.","description":"","country":null,"category":null,"originalName":"MiniMax公司整体ARR突破8亿美元，企业与开发者客户超200万","eventDate":"2026-08-27T00:00:00.000Z","website":"https://m.caixin.com/m/2026-08-27/102478340.html","sourceUpdatedAt":"2026-10-13T16:58:26.705Z","englishUpdatedAt":"2026-10-15T22:57:45.293Z","reviewedAt":"2026-10-15T22:57:45.293Z","snapshotAt":"2026-10-15T14:23:27.067Z","sourceHash":"b3624410a63e30ef34d7774e9061a31f5f33f1824a87a6b412f76db1f8877261","companyId":"ee3b971a-6b67-43b9-bf0c-68db245ab3e7","foundedYear":null,"logoUrl":null,"path":"/news/41030776-5131-4801-833e-51a4eab072d3"},{"id":"b67e2d11-667f-4a75-a8cc-c501f0cfeaf8","kind":"news","code":"b67e2d11-667f-4a75-a8cc-c501f0cfeaf8","name":"MiniMax completes angel financing","nameBasis":"translated-title","summary":"","description":"","country":null,"category":null,"originalName":"MiniMax完成天使轮融资","eventDate":"2022-01-01T00:00:00.000Z","website":null,"sourceUpdatedAt":"2026-10-14T10:48:20.229Z","englishUpdatedAt":"2026-10-15T17:19:59.901Z","reviewedAt":"2026-10-15T17:19:59.901Z","snapshotAt":"2026-10-15T14:23:27.067Z","sourceHash":"e04e662c0bb4bba4fa1f0f8f1325510c774f02950152b2bcf874d7d47c15012f","companyId":"ee3b971a-6b67-43b9-bf0c-68db245ab3e7","foundedYear":null,"logoUrl":null,"path":"/news/b67e2d11-667f-4a75-a8cc-c501f0cfeaf8"},{"id":"f85c593e-e7c5-48ea-8ed5-61ce6cb11810","kind":"news","code":"f85c593e-e7c5-48ea-8ed5-61ce6cb11810","name":"MiniMax completes approximately HKD 16 billion new-share placement and convertible bond funding, underwritten by Morgan Stanley","nameBasis":"translated-title","summary":"On 2026/7/10, Cailian Press and Zhidx reported that AI large-model company MiniMax, also known as Xiyu Technology (0100.HK), had announced financing after listing on the Hong Kong main board in month 1 that year. It proposed placing 35.6 million new Class A shares at HKD 268 per share, raising approximately HKD 9.54 billion gross, while issuing HKD 6.5 billion principal of zero-coupon guaranteed convertible bonds due in 2027. The initial conversion price was HKD 335 per share, approximately 12.64% above the closing price. Combined net proceeds were approximately HKD 15.957 billion, approximately 13.8 billion yuan (CNY) or approximately USD 2 billion. Morgan Stanley underwrote the transaction, attracting leading international sovereign funds, long-term funds and major Chinese institutions. Approximately 80% of funds would support AI infrastructure and large-model R&D. This was MiniMax’s first large-scale financing after listing.","description":"","country":null,"category":null,"originalName":"MiniMax完成约160亿港元配售新股及可转债融资，摩根士丹利承销","eventDate":"2026-07-10T00:00:00.000Z","website":"https://www.cls.cn/detail/2422383","sourceUpdatedAt":"2026-10-13T16:58:26.506Z","englishUpdatedAt":"2026-10-16T00:26:10.948Z","reviewedAt":"2026-10-16T00:26:10.948Z","snapshotAt":"2026-10-15T14:23:27.067Z","sourceHash":"9f33fcff57fbadaefad588093e8ea013f4566879700bcb99dbc471f71e4d6719","companyId":"ee3b971a-6b67-43b9-bf0c-68db245ab3e7","foundedYear":null,"logoUrl":null,"path":"/news/f85c593e-e7c5-48ea-8ed5-61ce6cb11810"},{"id":"98e14a91-11e6-473a-809e-ea955f6951d4","kind":"news","code":"98e14a91-11e6-473a-809e-ea955f6951d4","name":"MiniMax Completes IPO","nameBasis":"translated-title","summary":"On 2026-01-09, according to Xiniu Data, MiniMax completed an IPO, raising HKD 4.817 billion.","description":"","country":null,"category":null,"originalName":"MiniMax完成IPO","eventDate":"2026-01-09T00:00:00.000Z","website":null,"sourceUpdatedAt":"2026-10-16T19:34:30.114Z","englishUpdatedAt":"2026-10-18T08:52:13.902Z","reviewedAt":"2026-10-18T08:52:13.902Z","snapshotAt":"2026-10-18T08:51:49.337Z","sourceHash":"2b27ffc2b6945dd6d8d75ce6be5a781e6d1ab1816cba200d488f284202245f1c","companyId":"ee3b971a-6b67-43b9-bf0c-68db245ab3e7","foundedYear":null,"logoUrl":null,"path":"/news/98e14a91-11e6-473a-809e-ea955f6951d4"},{"id":"5ec8779c-0c85-45d5-b3a6-7ed83c98cfcb","kind":"news","code":"5ec8779c-0c85-45d5-b3a6-7ed83c98cfcb","name":"MiniMax Completes POST-IPO","nameBasis":"translated-title","summary":"On 2026-07-10, according to Xiniu Data, MiniMax completed post-IPO financing. 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