Chinese AI firm MiniMax targets $4 billion-plus valuation in Hong Kong IPO, sources say
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 16 2025
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Source: Reuters
MiniMax's IPO Plans: Chinese AI startup MiniMax has confidentially filed for an initial public offering (IPO) in Hong Kong, aiming for a valuation exceeding $4 billion and potentially raising between HK$4 billion to HK$5 billion ($510 million to $637 million) by the end of this year.
Company Background: Founded in 2022 by former SenseTime executive Yan Junjie, MiniMax specializes in multimodal AI models and has gained significant traction, serving over 157 million users globally and attracting investments from major firms like Alibaba and Tencent.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
