MiniMax has officially made its latest-generation, versatile multimodal generative model, MiniMax H3, available as open-source. This model has achieved top global rankings in numerous evaluations, garnering widespread industry recognition and swiftly climbing to the pinnacle of popularity on the Hugging Face platform. Within a mere 24 hours of the H3 model's open-source release, it has drawn adaptation and integration efforts from over a hundred partners worldwide, both domestically and internationally. This phenomenon underscores the robust capabilities of China's open-source AI within the multimodal domain. At present, the competitive landscape among large-scale models has pivoted towards ecological prowess, with chip compatibility emerging as a pivotal metric for gauging ecosystem maturity. Multiple investment banks have conferred a 'buy' recommendation on MiniMax, citing the H3 model's role in cementing its preeminent status in the AI video generation sector, aiding in customer base expansion, and propelling commercialization efforts. By the market's close on the 5th, MiniMax's stock price had surged by over 10%.