MiniMax, a general model start-up, is close to completing a new round of financing of more than $250 million.

[GM large model start-up MiniMax is nearing completion of a new round of financing of more than US $250 million] Science and Technology Innovation Board Daily reported on the 1st that MiniMax, a Chinese AI startup focusing on GM big models, is close to completing a round of financing of more than US $250 million, and its valuation is expected to reach nearly US $1.2 billion. The company is developing AI solutions similar to ChatGPT. MiniMax's latest round of financing has attracted new investors, including entities associated with Tencent. It is reported that MiniMax attracted Miha Youyou to participate in the previous financing. Other early investors include Yunqi Capital and Mingmeng Capital.