争夺大模型第一股！智谱、MiniMax通过港股聆讯

Core Viewpoint - The article discusses the recent progress of two AI model companies, Zhiyu and MiniMax, in their pursuit of listing on the Hong Kong Stock Exchange, highlighting their significance in the capital market and AI industry. Group 1: Company Overview - Zhiyu, established in 2019 as a technology transfer company from Tsinghua University, has completed 19 rounds of financing, attracting investments from notable firms such as Hillhouse Capital and Tencent, with a current valuation of 40 billion RMB [2]. - MiniMax, founded in December 2021, has received investments from major companies including Alibaba and Tencent, with a recent C round financing of nearly 300 million USD, leading to a post-money valuation exceeding 40 billion USD (approximately 300 billion RMB) [4]. Group 2: Financial Performance - Zhiyu's annual recurring revenue from its software tools and model business has surpassed 100 million RMB (approximately 14 million USD), with expectations of over 100% growth in total revenue by 2025 [2]. - MiniMax is projected to achieve a revenue of 70 million USD in 2024, primarily driven by its AI virtual companion application, Talkie [4]. Group 3: Market Position and Comparisons - Both Zhiyu and MiniMax are among the top domestic AI model startups in terms of valuation, but they still lag significantly behind leading US AI companies like OpenAI, which has a valuation of 500 billion USD and plans to go public with a potential valuation of up to 1 trillion USD [4].