On the morning of July 10, MiniMax (0100.HK) announced the successful completion of a substantial new round of equity financing, raising a total of HK$16 billion. This financing round garnered robust participation from a diverse array of investors, including multiple top-tier international sovereign wealth funds, long-term investment funds, prominent Chinese financial institutions, and leading multi-strategy funds. These investors hail from the Asia-Pacific, European, and U.S. markets, showcasing the global appeal and confidence in MiniMax's vision.

The transaction attracted interest from over a hundred institutions, resulting in an impressive 7 times subscription coverage, indicating strong market demand and investor enthusiasm. Originally planned at an offering size of approximately US$1.8 billion, the round ultimately expanded to exceed US$2 billion, reflecting the overwhelming support and belief in the company's growth potential.

MiniMax has outlined that the proceeds from this financing will be strategically allocated towards enhancing its AI infrastructure investments, accelerating model research and development initiatives, and fueling its global commercial expansion efforts. This significant capital infusion is poised to propel MiniMax to new heights, solidifying its position as a key player in the AI industry on a global scale.