According to informed sources, MiniMax, the AI unicorn headquartered in Shanghai, has successfully navigated the listing hearing at the Hong Kong Stock Exchange (HKEX). The company is on the cusp of becoming China’s inaugural large-scale AI model enterprise to debut on the capital market, though MiniMax has refrained from making any official statements.

As a frontrunner in China’s large-scale AI model industry, MiniMax boasts a roster of prominent shareholders, including tech giants Alibaba and Tencent. Earlier, a number of top-tier large-scale AI model firms had competed fiercely for the title of China’s ‘first listed large-scale AI model company,’ with all of them opting for HKEX as their primary listing destination.

Should MiniMax achieve a successful listing, it will follow in the footsteps of SenseTime, becoming the second AI-centric company to go public in Hong Kong. The company’s core assets encompass AI infrastructure and a diverse product portfolio grounded in large language models and multimodal generation technologies. This listing will serve as a litmus test for the capital market’s acceptance of the commercialization strategy for large-scale AI models, while also providing a valuable benchmark for forthcoming AI company IPOs.

At present, MiniMax has not divulged precise details regarding its fundraising targets or a definitive listing schedule, as the race for capital in China’s large-scale AI model sector hurtles towards its climactic phase.