MiniMax soars 54% in $619m Hong Kong AI IPO debut

Chinese generative AI startup MiniMax Group surged as much as 81% and closed up around 78% on its Hong Kong trading debut on January 9, 2026, after raising about HK$4.8 billion (~$619 million) in an IPO priced at the top of its range. Cornerstone investors including Alibaba and Abu Dhabi Investment Authority bought roughly 56% of the deal, underscoring strong demand for China’s first wave of public LLM companies.