Mar 5, 10:35 AM

Alibaba Leads $600M+ Round in Two-Year-Old MiniMax, Valued Over $2.5B

Alibaba is leading a significant financing round of at least $600M+ for the two-year-old Chinese AI startup MiniMax, marking a substantial investment in the technology sector. This round of financing positions MiniMax at a valuation exceeding $2.5 billion. The investment is notable as it represents Alibaba's second major foray into the AI space within the year, following a $1 billion investment in another AI startup, Moonshot AI, which also reached a valuation of $2.5 billion. The funding round for MiniMax is still in progress, with additional commitments from investors such as HongShan. This strategic move underscores Alibaba's aggressive push into AI, highlighting its commitment to growth and innovation in the sector.

#Alibaba #Chinese #MiniMax #Moonshot AI #HongShan

Written with ChatGPT (GPT-4).