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MiniMax

MiniMax
The latest news and top stories on MiniMax. A China-based entity in the artificial intelligence sector, MiniMax specialises in developing multimodal AI models, including large language models, text-to-speech and video generation. It primarily serves users, developers and businesses and is known for its open-sourcing efforts and focus on computational efficiency.
The move marks Zhipu’s second price increase this year, following a broader overhaul in February that lifted rates by more than 30 per cent. Photo: Shutterstock
Artificial intelligence

China’s Zhipu AI open-sources GLM-5.1, raises prices to trim gap with US rivals

The company’s second price increase this year signals a push to monetise advanced AI models while keeping costs below US peers.

OpenClaw

Chinese AI rivals clash over Anthropic’s OpenClaw exit amid global token crunch

Artificial intelligence

OpenClaw deepens China footprint through native Tencent, ByteDance integrations

Artificial intelligence

What Zhipu and MiniMax’s first post-IPO earnings say about the 2 AI start-ups

The two Chinese start-ups show promising commercialisation of AI models, which are reflected in rising demand and revenue.

Chinese AI start-ups Zhipu AI and MiniMax have shown early signs of sustainable commercialisation of their AI models. Photo: Xinhua
IPO

Hong Kong retains IPO crown but may lose to US mega listings over full year

Second place for IPO funds raised is Nasdaq, with US$5.65 billion from 18 listings, while the New York Stock Exchange ranks third.

Artificial intelligence

Zhipu AI revenue jumps 132% in first post-IPO report, missing estimates

Total losses soar 59.5 per cent to 4.72 billion yuan driven by mounting research and development spending.

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DeepSeek

‘I no longer knew how to work without it’: DeepSeek outage cuts off millions

Chinese AI start-up restores chatbot service by Monday morning after overnight disruption affects millions of users.

DeepSeek issued fixes between 1am and 9am on Monday. Photo: Xinhua
US-China trade war

US panel credits China’s AI edge to open-source models, manufacturing dominance

American Congressional commission concludes China’s open ecosystem has seen performance gaps narrowed with top Western large language models.

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Artificial intelligence

What is ‘tokenomics’ and how would China gain the edge in an AI era?

As tokens are positioned as the AI era’s commodity, China’s energy scale and low-cost models could give it a structural edge.

IPO

China’s tightened IPO rules for some ‘red chips’ in Hong Kong raise concerns

The CSRC asks some Hong Kong listing candidates to change their red-chip structure and issue H shares.

The CSRC is tightening listing rules for some firms seeking listings in Hong Kong. Photo: Jelly Tse
Artificial intelligence

Tencent sponsors OpenClaw after creator’s complaints of copying

Chinese tech companies are aggressively promoting the deployment of the AI agent amid a nationwide frenzy.

Shenzhen-based Tencent said its team members had contributed code to the open-source project. Photo: Reuters
China stock market

Hopes of AI monetisation to boost China tech stocks amid war, market scares

Chinese tech stocks prove steadier than regional and US peers, as frenzy over OpenClaw shows a possible way forward, analysts say.

OpenClaw

Inside the OpenClaw AI mania in China, as security fears and enthusiasm surge

Appeal of autonomous AI agent spurs rapid adoption across country, from tech pros to retirees seeking a ‘digital staff’, but data wipes mar its rise and trigger warnings.

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Artificial intelligence

China’s financial institutions draw line on OpenClaw as AI frenzy spreads

The automated agent requires unusually high levels of access to user devices, raising security concerns.

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A man holds a placard featuring OpenClaw, an open-source AI assistant in Beijing on March 11. Photo: AFP
Two Sessions 2026

China’s top court says it treats AI cases with care without stifling innovation

Supreme People’s Procuratorate says 4,739 individuals prosecuted last year in cases related to ‘data security breaches’.

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In an annual work report presented to the NPC, the president of China’s supreme court says courts “properly adjudicated cases” involving AI and “accurately grasped the ‘margin for error’ in technological innovation”. Photo: Reuters
Hong Kong economy

Letters | Hong Kong can do more to connect mainland funds with tech stocks

Readers discuss the Stock Connect scheme, a Chinese research team’s breakthrough using AI, and assessing teachers’ English proficiency.

Millionaires and billionaires

China reclaims title as world’s billionaire capital: Hurun Rich List

Global billionaire population hits record, led by Elon Musk, as China adds 287 names and AI emerges as a top wealth generator.

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Science

‘Two sessions’, two paths: China prioritises AI integration amid US tech rivalry

Beijing’s open-source push in focus ahead of annual legislative meeting and coming five-year plan, as Washington chooses different approach.

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The US has sought to slow China’s tech development, mainly through blocking the export of advanced chips used to power AI. Photo: Shutterstock Images
Artificial intelligence

Hong Kong-listed AI firm MiniMax’s revenue jumps 159% on strong demand

Shanghai-based company predicts revenue will double this year, based on strong user growth for its M2.5 model.

Banking & finance

South Korean investors pour millions into Chinese AI and tech stocks

Despite a sizzling home market, the country’s investors are stepping up buying on the Hong Kong and mainland exchanges this year.

Artificial intelligence

China’s MiniMax, Moonshot top AI token use ranking, ending year of US dominance

AI hosting platform OpenRouter’s latest ranking shows high demand for Chinese open-source models following a series of new releases.

Chinese open-source AI models’ surge to the top of token usage on OpenRouter ended US labs’ reign on the platform’s leaderboard over the past year. Photo: Shutterstock
Artificial intelligence

Anthropic’s allegations against Chinese firms expose AI training grey area

The US AI lab says DeepSeek, Moonshot AI and MiniMax AI used its systems to improve their models’ capabilities.

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Anthropic said that DeepSeek, Moonshot AI and MiniMax AI allegedly used roughly 24,000 fraudulent accounts to generate more than 16 million exchanges with its Claude models. Photo: AFP
Hong Kong stock market

Why is the Hang Seng Tech Index underperforming while AI shares soar?

The gauge has fallen 5.5 per cent this year, while newly listed AI firms Zhipu AI, MiniMax and Beijing Haizhi are up at least fivefold.

Artificial intelligence

China’s tech giants pursue AI, semiconductor talent in US amid fierce rivalry

ByteDance, Baidu, Alibaba Cloud and MiniMax are among the firms now actively recruiting fresh talent in the US.

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Artificial intelligence

Moonshot AI targets US$12 billion valuation as revenue surges for Kimi models

The latest round was jointly led by existing investors including Alibaba, Tencent, Andon and 5Y Capital, according to a source.

Moonshot’s flagship Kimi K2.5 was named one of the strongest open models in the world by third-party benchmark firm Artificial Analysis. Photo: Shutterstock Images
Hong Kong stock market

Korean investors pour US$92.5 million into Hong Kong AI, tech stocks

Return to mainland equities bends towards start-ups and ETFs, versus earlier focus on bellwether, large-cap names.

Bull statues stand near screens showing the Hang Seng Index at Exchange Square in Hong Kong, home of the city’s bourse operator, on February 3, 2026. Photo: Reuters
Artificial intelligence

The AI future is now, and markets are reacting differently in the US and China

Investor jitters grow in the US as AI reshapes expectations, but China’s markets have so far reacted with caution rather than panic.

Artificial intelligence

China’s MiniMax releases AI model ‘designed for real-world productivity’

Company says it is ‘first frontier model … delivering on the promise of intelligence too cheap to meter’.

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