关联内容智谱IPO：投资人详述背后故事，参加大湾区文投会打开知名度 1月9日，MiniMax正式在港交所IPO，股票代码:00100.H。上市首日，MiniMax表现强劲，开盘价235.4港元，较发行价165港元大 幅上涨42.67%。以开盘价计算，公司市值达719亿港元。 此前一日，智谱港股上市成为全球大模型第一股。上市首日，智谱发行价为116.2港元，当日报收131.5港元，涨幅为13.17%，总 市值约579亿港元。今日，智谱仍保持着股价上涨的趋势。 根据此次MiniMax公布的配发结果，假设绿鞋全额行使,此次全球募集资金总额约55.4亿港元。其中公开发售部分获1837倍超额 认购，国际发售部分获37倍认购，吸引了来自欧洲、美国、加拿大、南非、中东、东南亚的长线机构和主权基金投资，成为港 股IPO近年来最火爆的交易之一。 成立仅四年的MiniMax，在激烈的大模型行业竞争中构筑起差异化壁垒，并获得全球主流长线投资人的支持。复盘其成长发 展，离不开早期耐心资本的陪伴。21世纪经济报道记者梳理发现，在MiniMax的早期投资者阵容中，不仅有红杉、高瓴、IDG、 云启资本、明势资本、基石资本等VC/PE机构， ...

新年迎来沸腾一幕。 今日（1月9日），Mi n iMa x正式登陆港交所，此次I PO发行价为1 6 5港元/股， 开盘后大涨超7 0 % ，市值一度突破9 0 0亿港元。 值得 一提的是，Mi n iMa x公开发售部分超额认购倍数高达1 8 3 7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 ， Mi n iMa x 由 前 商 汤 高 管 闫 俊 杰 在 2 0 2 2 年 一 手 创 立 ， 至 此 成 为 全 球 从 成 立 到 I PO 用 时 最 短 的 AI 独 角 兽 之 一 。 这 位 出 生 于 1 9 8 9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2 0 2 2年3月第一笔下注开始，明势创投连续六轮加注，成为Mi n iMa x所有机构投资人参与 轮次最多的机构。 如今翻看Mi n iMa x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 ...

Core Viewpoint - MiniMax is emerging as a significant player in the AI industry, showcasing rapid growth and innovation with its new models and open-source initiatives, particularly the MiniMax-M1 model, which is being hailed as the "new king of cost-performance" in the AI landscape [1][2][10]. Company Background - MiniMax was founded in early 2022 by Yan Junjie, a PhD graduate from the Chinese Academy of Sciences, who previously held key positions at SenseTime [4][5]. - The company aims to create general artificial intelligence (AGI) and has positioned itself as a technology-driven entity, focusing on high-performance algorithms and models [6][7]. Product Development - MiniMax has been proactive in developing large models, launching its first AI product in October 2022, and has since introduced several consumer-facing products [6][7]. - The company has adopted a unique approach by investing heavily in the Mixture of Experts (MoE) architecture, which has set it apart from competitors still focused on dense models [7][8]. Recent Innovations - The MiniMax-M1 model supports the highest input context of 1 million tokens and has significantly reduced reinforcement learning costs to $530,000, outperforming similar models in efficiency [14][16]. - MiniMax has also launched the Hailuo 02 video generation model, which has expanded its parameter count and data volume, allowing for cost-effective 1080p video generation [17][20]. Market Position and Growth - MiniMax has achieved impressive user engagement, with its models interacting with global users 3 billion times daily, and has established a strong presence in over 200 countries [9][10]. - The company has successfully raised significant funding, with a valuation exceeding $2.5 billion following a recent round of financing led by Alibaba [24][25]. Future Outlook - MiniMax is committed to innovation and aims to carve out its own path in the competitive AI landscape, with aspirations to be among the leading companies in AGI development [28].