Wednesday, December 31, 2025

AGBI Business News: China’s Artificial Intelligence (AI) Startup MiniMax

Abu Dhabi Investment Authority (Adia) has backed the initial public offering of China’s artificial intelligence (AI) startup MiniMax as a cornerstone investor.

Adia backs IPO of Chinese AI startup MiniMax

By Pramod Kumar
City, Metropolis, Urban Reuters/Tyrone Siu
AI startup MiniMax plans to raise at least HK$3.83 billion ($492 million) from selling 25.4 million shares
The Abu Dhabi sovereign fund invested $65 million to acquire 3.35 million shares, the startup said in a filing to the Hong Kong stock exchange.
  •  Other IPO backers were Chinese tech giant Alibaba, IDG, Perseverance Asset Management and South Korea’s Mirae Asset Securities.

The cornerstone tranche raised $350 million, the startup said.

Caproasia

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