MoneyThe story, in brief
Open-source AI model developer MiniMax raises $2B in funding
$2B. That's what MiniMax just raised—half in equity, half in convertible debt—signaling investor confidence in open-source AI outside the US.
The KeyNews take
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.
The key facts
5 to knowMiniMax raises $2B total funding
50%+ from newly issued equity shares
Remaining capital from convertible bonds
Shanghai-based open-source AI developer
Reported by Bloomberg
Go to the source
SiliconAnglesiliconangle.com
Publisher excerpt: 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…