MiniMax

MiniMax is a Chinese AI foundation-model company founded in December 2021 by Yan Junjie and Zhou Yucong, both former SenseTime executives. Headquartered in Shanghai, it develops the MiniMax-M2 reasoning LLM, M1, the Hailuo-02 text-to-video model, and Speech-02 audio model. Consumer apps include Talkie (international) and Xing Ye (China). MiniMax IPO'd on the Hong Kong Stock Exchange (00100.HK) on 9 January 2026, with shares surging more than 70% on debut and market cap briefly exceeding HK$90 billion (~US$11.5B). Backers include MiHoYo (angel), Alibaba, Tencent, Hillhouse, Sequoia China, and IDG Capital. Its M2.7 model recently demonstrated 400 TPS on SambaNova hardware.

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