MiniMax, listed under the stock code 00100, has successfully concluded a new funding round, raising HK$16 billion. For a major model company, continuous capital is essential to support training, inference, computing power commitments, and global expansion efforts. This latest capital injection will significantly bolster MiniMax's financial reserves, providing support for its subsequent investments in AI infrastructure, model development, and worldwide commercial growth.

The transaction attracted participation from numerous premier international sovereign wealth funds, long-term investment funds, top-tier Chinese capital institutions, and leading multi-strategy funds, covering markets across the Asia-Pacific region, Europe, and the United States. More than 20 long-term and sovereign funds were involved, with several pre-IPO and cornerstone investors also increasing their shareholdings in this round, demonstrating their support for MiniMax's long-term development trajectory.

It is reported that the offering attracted participation from over a hundred institutions, achieving a subscription coverage of approximately seven times the initial offering size. The initial issuance was planned for around US$1.8 billion but was ultimately expanded to over US$2 billion due to strong institutional demand. Against the backdrop of recent volatility in capital markets, the robust subscription for this transaction indicates that existing shareholders, cornerstone investors, and international long-term capital continue to maintain a strong focus on MiniMax's medium-to-long-term fundamentals and its strategic position within the industry.