MiniMax secures $2 billion to advance open-source AI models
MiniMax Group Inc. has raised $2 billion in funding to enhance its open-source AI models, including the newly launched MiniMax-M3.
- Shanghai-based MiniMax Group Inc. is raising $2 billion, primarily through a share sale and convertible bonds.
- The company aims to sell $6.5 billion in zero-coupon convertible bonds, offering shares at a 12.6% premium.
- MiniMax’s latest AI model, MiniMax-M3, boasts 427 billion parameters and significantly boosts processing speeds.