Global investor interest in Chinese artificial intelligence (AI) companies is surging, with MiniMax positioning itself for a Hong Kong IPO in 2026. The AI startup aims to raise at least 3.83 billion HKD ($492 million) by offering approximately 25.4 million shares priced between 151 to 165 HKD each. If demand exceeds expectations, the offering could reach up to $712 million, valuing MiniMax at around $6.5 billion. Key investors include Alibaba Group and the Abu Dhabi Investment Authority, with cornerstone investments totaling about $350 million. MiniMax intends to utilize IPO proceeds for AI model research and product development over five years. The anticipated debut coincides with rival Zhipu AI, as both aim to become leading contenders in the domestic AI landscape. With the Hong Kong IPO market recovering, MiniMax’s listing reflects growing enthusiasm for Chinese AI firms, particularly after notable successes like DeepSeek.
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