逼近2000亿！AI“王炸级”应用，来了

Core Insights - The global AI industry is witnessing intense competition with the launch of new programming models, particularly MiniMax M2.5, which is designed for Agent scenarios and aims to set a price benchmark among high-performance AI programming models [1][6]. Group 1: Product Launches and Market Reactions - MiniMax launched its flagship programming model MiniMax M2.5 on February 12, becoming the first production-level model designed specifically for Agent scenarios [1]. - On the same day, MiniMax's stock price surged by 14.62%, closing at 588 HKD per share, with a market capitalization reaching 184.4 billion HKD [2]. - Other competitors, including Anthropic and OpenAI, also released new models, with Anthropic's Claude Opus 4.6 and OpenAI's GPT-5.3-Codex being notable mentions [1][5]. Group 2: Technical Features and Performance - MiniMax M2.5 is positioned against Claude Opus 4.6, supporting full-stack programming development across various applications, including advanced Excel processing and deep research [3]. - The model boasts a minimal activation parameter count of 10 billion, making it one of the smallest flagship models in the AI sector, which enhances its efficiency in private deployment and inference [4]. - MiniMax M2.5 achieves a transaction processing speed of 100 TPS, which is three times faster than Claude Opus 4.6, showcasing its superior performance [4]. Group 3: Competitive Landscape - The AI industry is experiencing a significant product competition, with MiniMax M2.5 aiming to provide the best cost-performance ratio in the market [5]. - The introduction of MiniMax M2.5 is expected to drive substantial advancements in Agent applications, positioning it as a key player in the evolving AI landscape [6]. - The competitive models from Anthropic and OpenAI also highlight advancements in speed and capabilities, with OpenAI's GPT-5.3-Codex showing a 25% speed improvement over its predecessor [5]. Group 4: Development and Investment - MiniMax has rapidly grown into a leading AI multimodal company within just four years, having invested approximately 500 million USD, compared to OpenAI's estimated expenditure of 40 to 55 billion USD [10].