Archive · 10 Jan 2026
MiniMax AI Stock Soars 109% on Debut
MiniMax, a company that makes AI models, started selling its stock in Hong Kong.
On the first day, the stock price more than doubled, going up by 109%.
This means a lot of people wanted to buy the stock.
MiniMax raised a lot of money, about $619 million, by selling the stock.
The company has a lot of users, over 212 million, in more than 200 countries.
Big companies like Alibaba and a fund from Abu Dhabi have invested in MiniMax.
This is part of a bigger trend where Chinese AI companies are doing well, as the Chinese government supports them to compete with big U.S. companies like Nvidia and OpenAI.
Other Chinese AI and chip companies have also seen big increases in their stock prices recently.
MiniMax's stock surged 109% on its Hong Kong debut, raising HK$4.8 billion ($619 million).
The company develops large-language models and has served over 212 million users in 200+ countries.
Investors include Alibaba and Abu Dhabi’s sovereign-wealth fund.
MiniMax is the second 'AI tiger' to go public this week, outperforming rival Zhipu AI.
China's AI sector is gaining momentum, with government support and recent successful IPOs.
- Who
- MiniMax, a Chinese AI company
- What
- Successful IPO with a 109% stock price increase
- When
- Friday, following an IPO
- Where
- Hong Kong stock market
- Why
- Investor interest in Chinese AI startups and Beijing's support for local AI alternatives
- Company
- MiniMax
- Stock Price Increase
- 109%
- IPO Amount
- HK$4.8 billion ($619 million)
- Offer Price
- HK$165
- Users Served
- 212 million
- Countries/Regions
- 200+
- Investors
- Alibaba, Abu Dhabi’s sovereign-wealth fund
- Benchmark Index Change
- Hang Seng Index +0.3%
