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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.
A photo taken on May 7, 2026 shows the letters AI for artificial intelligence on a screen next to the Claude logo. Photo: AFP
Artificial intelligence

How Chinese developers bypass restrictions to access top US AI models

One high-volume seller on Xianyu advertises ‘low-latency, no-VPN’ access to the full Claude 3.5 suite.

9
Artificial intelligence

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

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?

Breakthrough launch could lift stocks from chipmakers to model developers as demand for computing power builds and adoption widens: analysts.

The launch of DeepSeek’s V4 may lower the costs of AI integration into daily lives and broaden commercial usage, according to analysts. Photo: AFP
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.

7
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.

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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.

Starting this year, models from Chinese companies have intermittently ranked among the global top tier in token usage. Photo: SOPA Images/LightRocket via Getty Images
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.

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.

Pfizer, a leading global research‑based pharmaceutical and biotechnology company, is among the biggest names in the latest cohort. Photo: Reuters
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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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.

Chinese Premier Li Qiang has urged a deeper implementation of the country’s ‘AI plus’ strategy. Photo: AP
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.

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.

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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.

This photo taken on March 11, 2026 shows a mobile phone screen with the AI agent OpenClaw. Photo: Xinhua
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.

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.

The Zhipu AI booth at the World Artificial Intelligence Conference in Shanghai in 2024. Photo: Handout
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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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.

The CSRC is tightening listing rules for some firms seeking listings in Hong Kong. Photo: Jelly Tse
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.

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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