MiniMax raises $619M in Hong Kong IPO to scale multimodal AI

Chinese AI startup MiniMax Group said on January 8, 2026 it raised HK$4.82 billion (about $618.6 million) in its Hong Kong IPO by pricing shares at HK$165, the top of its range. The multimodal model developer, founded in 2022 by a former SenseTime executive, plans to spend most proceeds on AI R&D over the next five years.([reuters.com](https://www.reuters.com/world/asia-pacific/chinas-ai-startup-minimax-group-raises-619-million-hong-kong-ipo-2026-01-08/))