Chinese artificial intelligence startup MiniMax Group (HK:0100) has closed a new $2 billion funding round, according to a post on X by the company’s Head of Developer Relations, Ryan Lee, as the company further reinforces its pursuit of Artificial General Intelligence (AGI).
Lee said that MiniMax’s CEO also announced three long-term commitments to employees alongside the fundraising announcement.
According to the post, the CEO will forgo his salary until the company achieves AGI, allocate shares equivalent to 4% of MiniMax’s total equity from his personal holdings over the next four years to reward long-term employees, and dedicate an additional 1% equity stake to support the open-source community.
Share Placement and Convertible Bond Offering
Separately, the company said in a stock exchange filing that it plans to raise approximately HK$16 billion (US$2 billion) through a share placement and a zero-coupon convertible bond offering. The proceeds will be used to fund AI infrastructure, model research and development, global expansion, and its AI agent product, Harness.
The company said that around 80% of the proceeds will be allocated to expanding AI infrastructure and model R&D, citing a surge in demand after its enterprise customer and developer base grew to more than 1 million by the end of June, up from approximately 200,000 at the end of 2025. Meanwhile, its consumer products have reached around 300 million users worldwide.
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