China AI AtlasAlpha
Tech Buzz ChinaandAI ProemChina Research Collective
Key Takeaways
Lab profileActive listed lab

MiniMax (稀宇科技)

Multimodal ShowrunnersTotem · Min-max bracket

Known for: Consumer AI, characters, voice/video, and multimodal products.

Shanghai foundation-model lab founded by ex-SenseTime executives.

Founded
2021
Location
Shanghai
WebsiteGitHub
abab seriesMiniMax-01 (Lightning Attention)M1 / M2.5 / M2.7Hailuo (video)TalkieXingye
Revenue
$79.0M
As of 2026-03-03
via MiniMax results / KR Asia
ARR
$150M+
As of 2026-03-03
via MiniMax results / KR Asia
Valuation
$9.2B
Market cap · live, 2026-07-14
via Yahoo Finance
Funding raised
$1.8B
~$1.8B cumulative disclosed funding, including $619M IPO proceeds
Employees
415
2026-07-14
via Yahoo Finance
Market cap / employee
$22.3M
How lean the team is
Key people
Investors
Alibaba Group (阿里巴巴)HongShan (formerly Sequoia China) (红杉中国)Hillhouse Capital (高瓴资本)miHoYo (米哈游)
Government backing
Shanghai SASAC / Municipal Gov (上海市国资委)
Notable alumni & departures
YANG Bin (杨斌)HU Yongyi (胡咏毅)

Models & API pricing

Rates are OpenRouter's listed prices (USD per 1M tokens), a convenient cross-provider benchmark. First-party / native API pricing in China can differ, sometimes materially. Source: OpenRouter, as of Jul 13, 2026. Compare them on the models page.

MiniMax M2.7
205K context
$0.24
Input / 1M
$0.96
Output / 1M

News & coverage

Notable recent updates, newest first.

ISR 1 hour
ProductJul 8, 2026
MiniMax

MiniMax (Chinese: 稀宇科技)'s M3 model tops leaderboards, challenging Silicon Valley's closed-source giants.

Hands-on review of MiniMax (Chinese: 稀宇科技) M3 that tops leaderboards: Is it slapping Silicon Valley's closed-source giants in the face?
TMTPost (钛媒体)
RevenueJun 14, 2026
MiniMax

MiniMax (Chinese: 稀宇科技) unblocks banned users and hikes prices as global AI rivals squeeze its margins.

MiniMax (Chinese: 稀宇科技) at the Crossroads: Lifting Bans, Raising Prices, and the Triple Siege of Global Giants
TMTPost (钛媒体)
ProductJun 5, 2026
MiniMax

MiniMax (Chinese: 稀宇科技) apologizes for switching to token-based billing for its M3 model, offering subscription protection.

MiniMax (Chinese: 稀宇科技) apologizes for switching to token-based billing, announces subscription rights protection and migration plan
IT Zhijia (IT之家)
DealMay 31, 2026
MiniMax

MiniMax (Chinese: 稀宇科技) plans an IPO on Shanghai's STAR Market, a major milestone for the AI startup.

MiniMax (Chinese: 稀宇科技) Plans IPO on STAR Market
Jiemian (界面新闻)