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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.
Moonshot AI, best known for its Kimi chatbot, saw its annual recurring revenue exceed US$200 million in April. Photo: Shutterstock
Artificial intelligence

Kimi developer Moonshot AI valued at US$20b as it navigates new IPO rules

Firm raised US$2 billion from investors including Meituan’s venture and China Mobile, taking total to US$3.9 billion in the last six months.

Hong Kong stock market

Chinese AI stocks are surging. So why is Hong Kong’s tech index still falling?

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China stock market

Who could gain from DeepSeek’s V4 with China chips poised for stronger demand?

DeepSeek

China’s DeepSeek prices new V4 AI model at 97% below OpenAI’s GPT-5.5

DeepSeek’s move aims to attract more enterprise clients, developers and agent-based users, according to an academic.

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The DeepSeek app is seen on a mobile phone screen in Beijing on January 27, 2025. Photo: AFP
Artificial intelligence

Investors rotate to China’s chipmakers as DeepSeek intensifies AI competition

Efficient new model boosts outlook for computing power demand but pressures valuations of AI application developers.

Artificial intelligence

Can ‘token exports’ give China an edge in the AI era?

As AI tokens emerge as a new commodity, China’s cost advantage is reshaping global model competition, though monetisation gaps remain.

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Artificial intelligence

DeepSeek isn’t short of cash: so why has it decided to raise funds anyway?

DeepSeek is raising a small funding round not for cash, but to set a valuation benchmark and retain talent as rivals ramp up poaching.

DeepSeek CEO Liang Wenfeng is pursuing ambitions in artificial general intelligence – AI capable of matching human performance across a wide range of tasks. Photo: Shutterstock
China stock market

Outlook for China stocks brightens on capital flows, rebounding home prices

Resilience shown since start of Middle East war likely to continue amid haven demand, according to fund managers and investment banks.

Hong Kong economy

Which global firms are being attracted by Hong Kong’s strategic enterprise scheme?

The South China Morning Post examines 22 firms opening or expanding in the city, with HK$73 billion in investment and 25,000 jobs expected.

Artificial intelligence

Chinese software firms defy ‘SaaSpocalypse’ with strategic AI partnerships

Legacy Chinese SaaS firms are integrating AI into their offerings and seeing ‘significant robust growth’ as a result, Liu said.

An AI display is seen at the Zhongguancun Exhibition Centre in Beijing, March 25, 2026. Photo: Xinhua
US-China tech war

‘Horrible’ for US if DeepSeek AI models run on Huawei chips: Nvidia CEO

DeepSeek on Huawei chips could help China – powered by ‘abundant’ energy and large pool of researchers – catch up with US in AI: Nvidia CEO.

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Even if China has inferior chips, it can still catch up with the US in AI development given its abundant energy and large pool of AI researchers, according to Jensen Huang. Photo: Handout
Artificial intelligence

How the rise of AI agents could finally make China’s open-source models pay

Free models helped Chinese firms find rapid success – but thin margins are forcing a shift towards hybrid business strategies.

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Artificial intelligence

China’s Li Qiang hosts Moonshot AI chief, urges faster industrial AI roll-out

Beijing signals stronger push to embed AI in manufacturing as premier meets rising start-up founders and industry leaders.

Artificial intelligence

Alibaba’s Qwen family captures over 50% of global open-source downloads: report

Qwen hits nearly 1 billion cumulative downloads, far surpassing rivals like Meta Platforms’ Llama and DeepSeek, researchers say.

Qwen generated 153.6 million downloads in February alone, more than double the combined total from the next eight major players, according to researchers. 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.

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
OpenClaw

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

Chinese companies are competing to offer the cheapest alternatives to premium US services from the likes of OpenAI and Anthropic.

Artificial intelligence

OpenClaw deepens China footprint through native Tencent, ByteDance integrations

Tencent is actively seeking cooperation with OpenClaw as it moves to capitalise on the agent’s popularity to win over domestic users.

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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.

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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China’s lower-cost AI language models surged in popularity in 2025 with the release of DeepSeek R1. Photo: Shutterstock
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.

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.

People cross the street beneath screens showing stock data in Shanghai on March 9, 2026. Photo: EPA
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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