新年迎来沸腾一幕。 今日（1月9日），MiniMax正式登陆港交所，此次IPO发行价为165港元/股，开盘后大涨超70%，市值一度突破900亿港元。值得一提的是，MiniMax公开 发售部分超额认购倍数高达1837倍，欧洲、美国、加拿大、南非、中东、东南亚的最顶级的长线机构、主权基金悉数投资，火爆程度不言而喻。 始于上海，MiniMax由前商汤高管闫俊杰在2022年一手创立，至此成为全球从成立到IPO用时最短的 AI 独角兽之一。这位出生于1989年的博士，成为中国 AI新浪潮的标志性面孔。 "外表温和，甚至有一丝可爱。"但在明势创投创始合伙人黄明明看来，闫俊杰内心深处有着对做出选择的坚定信念和一种狠劲，这是在最顶级的创始人身 上才能看见的气质。从2022年3月第一笔下注开始，明势创投连续六轮加注，成为MiniMax所有机构投资人参与轮次最多的机构。 如今翻看MiniMax的融资历程，投资人队伍尤为浩荡，大家接力用真金白银支持中国大模型企业登上全球舞台，共同缔造了眼前这个波澜壮阔的AI时代。 四次会面，四年前首次投了MiniMax 在出手MiniMax之前，明势团队和创始人闫俊杰、联合创始人贠烨祎一共密集见了 ...

Core Insights - MiniMax, a large model company, is nearing completion of a new funding round of approximately $300 million, with a post-money valuation exceeding $4 billion (around 300 billion yuan) [2] - The funding round includes contributions from listed companies, cross funds, and large state-owned platforms, specifically Shanghai State-owned Assets [2] - MiniMax is preparing for a potential IPO in Hong Kong, as reported by Bloomberg in June [2] Company Overview - MiniMax (Shanghai Xiyu Technology) was founded in December 2021 and is headquartered in Shanghai, focusing on the development of general artificial intelligence technology that integrates text, voice, and visual modalities [2] - The company has launched several products, including the ABAB series large models and applications like Glow and Hailuo AI [2] - The founder, Yan Junjie, previously served as Vice President at SenseTime and CTO of the Smart City Business Group [2] Funding History - In June 2023, MiniMax completed a $250 million funding round, achieving unicorn status [3] - The company had previously raised $600 million in a B round from Alibaba and over $250 million in an A round from Tencent Capital [2][3] - Early investors also include Yunqi Capital, Hillhouse Venture Capital, IDG, Mingshi Capital, and Mihayou, with no state-owned background investors in earlier rounds [2] Product Development - In December 2023, MiniMax released the first MoE architecture large model in China [3] - The company plans to launch the ABAB 6.5 series model in 2024 [3] - In January 2023, MiniMax open-sourced the MiniMax-01 series, which includes the MiniMax-Text-01 language model and the MiniMax-VL-01 visual multimodal model [3]