The NumbersJuly 10, 2026via SiliconAngle
Open-source AI model developer MiniMax raises $2B in funding
Why it matters
MiniMax's $2B raise demonstrates the global shift in AI funding away from US-centric closed models, with Chinese open-source developers now commanding mega-round valuations on par with Western labs.
Key signals
- MiniMax raises $2B total funding
- 50%+ from newly issued equity shares
- Remaining capital from convertible bonds
- Shanghai-based open-source AI developer
- Reported by Bloomberg
The hook
$2B. That's what MiniMax just raised—half in equity, half in convertible debt—signaling investor confidence in open-source AI outside the US.
MiniMax Group Inc., a Shanghai-based artificial intelligence developer, is raising $2 billion in funding. Bloomberg reported on Thursday that more than half the funds are expected to come from the sale of newly issued shares. According to the publication, the company will raise the remaining capital by issuing convertible bonds. Those are debt instruments that […]