MiniMax 稀宇科技
Founded: 2021, Shanghai | CEO: Yan Junjie | Listed: HKEX: 00100 (Jan 2026) Category: Foundation Models, AI Agents, Video/Audio Generation
MiniMax builds multimodal AI models and consumer applications. Their M2.5 foundation model powers a suite of products spanning text, video, speech, and music generation. They’re one of China’s „AI Tigers“ — the new generation of LLM startups challenging both domestic incumbents and US leaders like OpenAI.
Key Products
The most relevant products (as of March 2026)
M2.5 Model
MoE architecture (229B parameters, ~10B active per request). Rivals Claude and GPT-4 at a fraction of the cost.
Hailuo AI
Video generation platform. 5.6M monthly active users, 600M+ videos generated globally.
Talkie/Xingye
AI character interaction app. 236M+ cumulative users across 200+ countries.
MaxClaw
Cloud-based AI agent built on OpenClaw. Deploy in under 10 seconds, zero infrastructure.
MiniMax Audio
Text-to-speech supporting 40+ languages.
Facts and Figures
Key Numbers (2025)
| Metric | Value |
| Revenue | $79M (+159% YoY) |
| International revenue share | 70%+ |
| Users | 236M+ across 200+ countries |
| Enterprise clients | 214,000+ |
| Gross margin | 25.4% |
| Adjusted net loss | $251M |
| Stock performance since IPO | +600% |
Why MiniMax matters
MiniMax is the most internationally oriented of China’s AI Tigers. With 70% of revenue from overseas and products used in 200+ countries, it’s already more global than domestic. The MaxClaw launch positions it at the center of the agentic AI wave. Goldman Sachs initiated coverage with a $38.9B valuation target.
OpenClaw Connection
MiniMax launched MaxClaw in February 2026 — a cloud-hosted AI agent bundling MiniMax’s M2.5 model with the OpenClaw framework. Stock surged 27.4% in a single weekend following the integration.
Europe Relevance
MiniMax’s products (Hailuo AI, Talkie) already have significant European users. The M2.5 model is available via API for European developers. For companies evaluating alternatives to OpenAI/Anthropic, MiniMax offers competitive performance at lower cost.