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\"MiniMax\u4f5c\u4ef7461\u4ebf\u6e2f\u5143\u52df\u8d4446\u4ebf\uff0c1\u67089\u65e5\u6572\u949f\u4ee3\u780100100\"\/<\/div><\/figure>\n
\"MiniMax\u4f5c\u4ef7461\u4ebf\u6e2f\u5143\u52df\u8d4446\u4ebf\uff0c1\u67089\u65e5\u6572\u949f\u4ee3\u780100100\"\/<\/div><\/figure>\n
\"MiniMax\u4f5c\u4ef7461\u4ebf\u6e2f\u5143\u52df\u8d4446\u4ebf\uff0c1\u67089\u65e5\u6572\u949f\u4ee3\u780100100\"\/<\/div><\/figure>\n

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MiniMax\u4eca\u8d77\u62db\u80a1\uff0c\u4f5c\u4ef7461\u4ebf\u6e2f\u5143\uff0c\u62df\u52df\u8d44\u8d856\u4ebf\u7f8e\u5143\u3002\u9884\u8ba1\u5c06\u4e8e1\u67089\u65e5\u6b63\u5f0f\u6302\u724c\u4e0a\u5e02\uff0c\u4ee3\u53f700100\u3002<\/p>\n

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\u5982\u4eca\uff0cMinimax\uff0c\u540c\u6837\u63a8\u5f00\u4e86\u6e2f\u4ea4\u6240\u7684\u5927\u95e8\u3002<\/p>\n

AI\u5927\u65b0\u95fb\uff0c\u4e00\u6869\u63a5\u4e00\u6869\u3002<\/p>\n

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\u6839\u636e\u62db\u80a1\u4e66\uff0cMiniMax\u672c\u6b21IPO\u62df\u52df\u8d44\u8d85\u8fc76\u4ebf\u7f8e\u5143\uff0c\u4f30\u503c\u5c06\u8d85461\u4ebf\u6e2f\u5143\uff0c\u9884\u8ba1\u4e8e2026\u5e741\u67089\u65e5\u5b8c\u6210\u6302\u724c\u4e0a\u5e02\uff0c\u4ee3\u53f700100\u3002<\/p>\n

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\u6b64\u5916\uff0cIDG\u8d44\u672c\u3001Perseverance Asset Management\u4ee5\u53ca\u97e9\u56fd\u672a\u6765\u8d44\u4ea7\uff0c\u4e5f\u5c06\u6210\u4e3a\u672c\u6b21\u53d1\u884c\u7684\u57fa\u77f3\u6295\u8d44\u8005\u4e4b\u4e00\u3002<\/p>\n

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\u4eca\u5e746\u6708\uff0cMiniMax\u53d1\u5e03\u5e76\u5f00\u6e90\u4e86M1\u6a21\u578b\uff0c\u56db\u4e2a\u6708\u540e\uff0cM2\u4e5f\u95ea\u4eae\u767b\u573a\u3002<\/p>\n

MiniMax M2\u53d1\u5e03\u671f\u95f4\uff0c\u5728Artificial Analysis\u699c\u5355\u5237\u65b0\u4e86\u56fd\u4ea7\u6587\u672c\u6a21\u578b\u6700\u9ad8\u6210\u7ee9\u2014\u2014\u5168\u7403\u524d\u4e94\uff0c\u5f00\u6e90\u7b2c\u4e00\u3002<\/p>\n

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\u5728\u6b64\u4e4b\u5916\uff0cMiniMax\u8fd8\u79ef\u6781\u62e5\u62b1\u667a\u80fd\u4f53\u70ed\u6f6e\uff0c\u63a8\u51fa\u4e86\u56fd\u5185\u9996\u6b3e\u5168\u6808\u901a\u7528\u667a\u80fd\u4f53MiniMax Agent\uff0c\u4ee5\u53ca\u652f\u6301\u7528\u6237\u81ea\u7531\u521b\u9020\u548c\u5206\u4eabAI Agent\u7684\u4ea4\u4e92\u5e73\u53f0\u661f\u91ce\uff08Talkie\uff09\u3002<\/p>\n

B\u7aef\u4e1a\u52a1\uff0cMiniMax\u6709\u9500\u552eAPI\u7684MiniMax\u5f00\u653e\u5e73\u53f0\u3002\u524d\u9762\u63d0\u5230\u8fc7\u7684\u6240\u6709\u6a21\u578b\uff0c\u90fd\u80fd\u5728MiniMax\u5f00\u653e\u5e73\u53f0\u4e0a\u627e\u5230\u5bf9\u5e94\u7684API\u670d\u52a1\u3002<\/p>\n

\u8be5\u5e73\u53f0\u65e5\u5747\u5904\u7406\u8d85\u4e07\u4ebfToken\u8bf7\u6c42\uff0c\u5df2\u7d2f\u8ba1\u9762\u5411\u6765\u81ea\u8d85\u8fc7100\u4e2a\u56fd\u5bb6\u53ca\u5730\u533a\u7684\u4f01\u4e1a\u5ba2\u6237\u548c\u5f00\u53d1\u8005\u63d0\u4f9b\u670d\u52a1\u3002<\/p>\n

\u53e6\u5916\uff0c\u8fd8\u6709\u591a\u5bb6\u6d77\u5185\u5916\u77e5\u540d\u5e94\u7528\u5e73\u53f0\u548c\u5f00\u6e90\u9879\u76ee\u540c\u65f6\u63a5\u5165\u4e86MiniMax M2\u3002<\/p>\n

\u90a3\u4e48\uff0c\u8fd9\u6837\u7684\u6210\u679c\u548c\u8def\u5f84\u9009\u62e9\uff0c\u53c8\u7ed9MiniMax\u5e26\u6765\u4e86\u600e\u6837\u7684\u8d22\u52a1\u4e1a\u7ee9\u5462\uff1f<\/p>\n

\u5148\u770b\u8425\u6536\uff1a<\/p>\n

MiniMax\u4ece2023\u5e74\u5f00\u59cb\u8fdb\u884c\u5546\u4e1a\u5316\uff0c\u8425\u6536\u5df2\u8fbe\u5230346\u4e07\u7f8e\u5143\uff0c2024\u5e74\u76f4\u63a5\u98d9\u5347\u52303052\u4e07\u7f8e\u5143\uff0c\u540c\u6bd4\u66b4\u6da8782.2%\u3002<\/p>\n

2025\u5e74\u524d9\u4e2a\u6708\uff0c\u516c\u53f8\u7684\u8425\u6536\u989d\u518d\u5ea6\u5927\u6da8175%\uff0c\u8fbe\u52305344\u4e07\u7f8e\u5143\uff0c\u5df2\u7ecf\u8fdc\u8fdc\u8d85\u8d8a\u4e86\u53bb\u5e74\u5168\u5e74\u7684\u6c34\u5e73\u3002<\/p>\n

\u622a\u81f3\u4eca\u5e749\u670830\u65e5\uff0c\u516c\u53f8C\u7aef\u6536\u5165\u540c\u6bd4\u589e\u957f\u4e86181%\uff0cB\u7aef\u6536\u5165\u540c\u6bd4\u589e\u957f\u4e86160%\u3002<\/p>\n

\u5229\u6da6\u5c42\u9762\uff0cMiniMax\u7684\u6bdb\u5229\u7387\u5df2\u51fa\u73b0\u660e\u663e\u6539\u5584\uff1a\u4ece2023\u5e74\u7684-24.7%\u8f6c\u6b63\u81f32024\u5e74\u768412.2%\uff0c\u5e76\u5728\u4eca\u5e74\u524d9\u4e2a\u6708\u8fdb\u4e00\u6b65\u63d0\u5347\u81f323.3%\u3002<\/p>\n

\u4e0d\u8fc7\uff0c\u4f5c\u4e3a\u5bf9\u7167\uff0c\u4e3b\u8425B\u7aef\u4e1a\u52a1\u7684\u667a\u8c31\uff0c\u6bdb\u5229\u7387\u957f\u671f\u7ef4\u6301\u572850%\u4ee5\u4e0a\u3002<\/p>\n

\u901a\u8fc7\u8fd9\u4e00\u5dee\u5f02\uff0c\u6216\u8bb8\u80fd\u52fe\u52d2\u51fa\u5f53\u524dAI\u5546\u4e1a\u6a21\u5f0f\u7684K\u578b\u5206\u53c9\u2014\u2014\u5728\u65e2\u6709\u6280\u672f\u6761\u4ef6\u4e0b\uff0c\u76f8\u6bd4C\u7aef\u5e94\u7528\uff0cAI\u5728B\u7aef\u7684\u843d\u5730\u66f4\u5bb9\u6613\u770b\u5230\u4ef7\u503c\uff0c\u4f01\u4e1a\u5ba2\u6237\u7684\u4ed8\u8d39\u610f\u613f\u4e5f\u56e0\u6b64\u66f4\u5f3a\u3002<\/p>\n

\u4ee5MiniMax\u4eca\u5e74\u524d9\u4e2a\u6708\u7684\u6570\u636e\u62c6\u89e3\u6765\u770b\uff0c\u516c\u53f8C\u7aef\u4e0eB\u7aef\u4e1a\u52a1\u7684\u6bdb\u5229\u7387\u5206\u522b\u4e3a4.7%\u548c69.4%\u3002<\/p>\n

\u56e0\u6b64\uff0c\u82e5\u5254\u9664C\u7aef\u4ea7\u54c1\u661f\u91ce\u7684\u5f71\u54cd\uff0cMiniMax\u6574\u4f53\u6bdb\u5229\u7387\u540c\u6837\u5c06\u63a5\u8fd150%\u3002<\/p>\n

\u5373\u4fbf\u5982\u6b64\uff0c\u548c\u6240\u6709AI\u516c\u53f8\u4e00\u6837\uff0c\u300c\u7814\u53d1\u6295\u5165\u300d\u8fd9\u4e00\u9ed1\u6d1e\uff0c\u4f9d\u7136\u5728\u75af\u72c2\u62bd\u5438Minimax\u7684\u8d22\u52a1\u6c27\u6c14\u3002<\/p>\n

\u4ee5\u8bad\u7ec3\u76f8\u5173\u7684\u4e91\u8ba1\u7b97\u670d\u52a1\u5f00\u652f\u4e3a\u4f8b\uff1a<\/p>\n

2022\u5e74\u30012023\u5e74\u30012024\u5e74\u53ca2025\u5e74\u524d\u4e5d\u4e2a\u6708\uff0c\u8bad\u7ec3\u6210\u672c\u5206\u522b\u4e3a415\u4e07\u7f8e\u5143\u30014723\u4e07\u7f8e\u5143\u30011.4\u4ebf\u7f8e\u5143\u548c1.42\u4ebf\u7f8e\u5143\u3002\u6574\u4f53\u5448\u73b0\u6301\u7eed\u6500\u5347\u3002<\/p>\n

\u4e0d\u8fc7\uff0c\u4ece\u8bad\u7ec3\u6210\u672c\u5360\u6536\u5165\u7684\u6bd4\u4f8b\u6765\u770b\uff0c\u8fd9\u4e00\u538b\u529b\u5df2\u6709\u6240\u7f13\u89e3\u30022023\u5e74\uff0c\u8be5\u6bd4\u4f8b\u4e00\u5ea6\u8d85\u8fc71365%\uff0c\u800c\u57282025\u5e74\u524d\u4e5d\u4e2a\u6708\u5df2\u964d\u81f3266.5%\u3002<\/p>\n

\u5c3d\u7ba1\u5982\u6b64\uff0c \u8fd9\u628a\u9ad8\u60ac\u7684\u8fbe\u6469\u514b\u5229\u65af\u4e4b\u5251\u4f9d\u7136\u950b\u5229\u3002\u4e0e\u667a\u8c31\u4e00\u6837\uff0cMiniMax\u76ee\u524d\u4ecd\u5904\u4e8e\u4e8f\u635f\u72b6\u6001\uff1a<\/p>\n

2022\u5e74\u30012023\u5e74\u548c2024\u5e74\uff0c\u516c\u53f8\u7ecf\u8c03\u6574\u51c0\u4e8f\u635f\u5206\u522b\u4e3a1215\u4e07\u7f8e\u5143\u30018907\u4e07\u7f8e\u5143\u548c2.44\u4ebf\u7f8e\u5143\uff1b\u4eca\u5e74\u524d9\u4e2a\u6708\uff0cMiniMax\u7684\u7ecf\u8c03\u6574\u51c0\u4e8f\u635f\u4e3a1.86\u4ebf\u7f8e\u5143\u3002<\/p>\n

\u5e86\u5e78\u7684\u662f\uff0cMiniMax\u80cc\u540e\u6709\u8f83\u4e3a\u5145\u88d5\u7684\u300c\u73b0\u91d1\u5f39\u836f\u5e93\u300d\u2014\u2014<\/p>\n

\u622a\u81f32025\u5e749\u670830\u65e5\uff0c\u516c\u53f8\u7684\u73b0\u91d1\u50a8\u5907\u5408\u8ba1\u4e3a11.02\u4ebf\u7f8e\u5143\uff08\u5305\u62ec\u73b0\u91d1\u53ca\u7b49\u4ef7\u7269\u548c\u7406\u8d22\u4ea7\u54c1\uff09\u3002<\/p>\n

\u4ee5\u516c\u53f8\u76ee\u524d\u7684\u73b0\u91d1\u6d88\u8017\u7387\u6765\u770b\uff0c\u5373\u4fbf\u6ca1\u6709IPO\u52df\u8d44\uff0c\u8d26\u4e0a\u7684\u73b0\u91d1\u4e5f\u8db3\u591f\u652f\u6301\u6b63\u5e38\u8fd0\u842553\u4e2a\u6708\u4ee5\u4e0a\u3002<\/p>\n

\u80fd\u6709\u5982\u6b64\u957f\u7684\u7eed\u822a\uff0c\u9664\u4e86\u516c\u53f8\u81ea\u8eab\u8fd0\u8425\u6548\u7387\u7684\u4f18\u5316\uff0c\u5f53\u7136\u4e5f\u79bb\u4e0d\u5f00\u5176\u80cc\u540e\u4e00\u4f17\u6295\u8d44\u4eba\u7684\u652f\u6301\u3002<\/p>\n

MiniMax\u6210\u7acb\u4e8e2022\u5e74\uff0c\u653e\u5728\u5927\u6a21\u578b\u516c\u53f8\u91cc\u7b97\u5f97\u4e0a\u5e74\u8f7b\u3002<\/p>\n

\u522b\u770b\u6210\u7acb\u81f3\u4eca\uff0c\u6ee1\u6253\u6ee1\u7b97\u53ea\u6709\u8fd14\u5e74\uff0c\u4f46\u516c\u53f8\u80cc\u540e\u7684\u6295\u8d44\u961f\u4f0d\u5df2\u662f\u4f17\u661f\u4e91\u96c6\uff0c\u5176\u4e2d\u4e0d\u4e4f\u9876\u5c16\u8d44\u672c\u2014\u2014<\/p>\n

\u65e2\u6709\u7c73\u54c8\u6e38\u3001\u963f\u91cc\u3001\u817e\u8baf\u3001\u5c0f\u7ea2\u4e66\u3001\u5c0f\u7c73\u3001\u91d1\u5c71\u3001PCG\u548c\u6b63\u5927\u96c6\u56e2\u8fd9\u6837\u7684\u6218\u7565\u6295\u8d44\u4eba\uff0c\u4ea6\u5305\u62ec\u9ad8\u74f4\u3001IDG\u3001\u7ea2\u6749\u3001\u7ecf\u7eac\u3001\u660e\u52bf\u3001\u4e91\u542f\u7b49\u77e5\u540d\u6295\u8d44\u673a\u6784\uff0c\u7d2f\u8ba1\u878d\u8d44\u91d1\u878d\u8d8515\u4ebf\u7f8e\u5143\uff08\u6298\u5408\u4eba\u6c11\u5e01\u7ea6106\u4ebf\u5143\uff09\u3002<\/p>\n

\u4e00\u65e6\u6210\u529f\u4e0a\u5e02\uff0cMiniMax\u5c06\u6210\u4e3a\u4ece\u6210\u7acb\u5230\u5b8c\u6210IPO\u7528\u65f6\u6700\u77ed\u7684\u516c\u53f8\u3002<\/p>\n

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\u521b\u59cb\u4eba\u517cCEO\u95eb\u4fca\u6770\uff0c\u5728\u521b\u7acbMiniMax\u4e4b\u524d\uff0c\u5c31\u662f\u5546\u6c64\u79d1\u6280\u7684\u526f\u603b\u88c1\uff0c\u540c\u65f6\u4e5f\u62c5\u4efb\u5546\u6c64\u79d1\u6280\u7814\u7a76\u9662\u526f\u9662\u957f\u548c\u667a\u6167\u57ce\u5e02\u4e8b\u4e1a\u7fa4\u9996\u5e2d\u6280\u672f\u5b98\u3002<\/p>\n

\u4ed6\u662f\u5546\u6c64\u65e9\u671f\u7684\u5173\u952e\u6280\u672f\u4eba\u7269\u4e4b\u4e00\uff0c\u8d1f\u8d23\u642d\u5efa\u4e86\u5546\u6c64\u6df1\u5f15\u4ee5\u4e3a\u50b2\u7684\u6df1\u5ea6\u5b66\u4e60\u5de5\u5177\u94fe\u548c\u5e95\u5c42\u7b97\u6cd5\u4f53\u7cfb\u3002<\/p>\n

\u9664\u4e86\u95eb\u4fca\u6770\u672c\u4eba\uff0cMiniMax\u7684\u65e9\u671f\u6838\u5fc3\u56e2\u961f\u4e2d\u4e5f\u6c47\u805a\u4e86\u591a\u4f4d\u5177\u6709AI\u843d\u5730\u7ecf\u9a8c\u7684\u6280\u672f\u4eba\u624d\u3002<\/p>\n

\u65e9\u671f\u8054\u5408\u521b\u59cb\u4eba\u5468\u5f67\u806a\uff08\u5546\u6c64\u7b97\u6cd5\u56e2\u961f\u539f\u8d1f\u8d23\u4eba\uff09\u548c\u8d20\u70e8\u794e\uff08\u5546\u6c64CEO\u529e\u516c\u5ba4\u539f\u6218\u7565\u8d1f\u8d23\u4eba\uff09\u5747\u66fe\u5728AI1.0\u65f6\u4ee3\u5386\u7ecf\u5b9e\u6218\uff0c\u8fd9\u79cd\u4eba\u624d\u6784\u6210\u7684\u8fde\u8d2f\u6027\u4f7f\u5f97MiniMax\u5728\u6210\u7acb\u4e4b\u521d\u5c31\u5177\u5907\u4e86\u6210\u719f\u7684\u5de5\u7a0b\u5316\u843d\u5730\u80fd\u529b\u548c\u7b97\u6cd5\u7814\u7a76\u4f53\u7cfb\u3002<\/p>\n

\u8fd9\u79cd\u300cAI\u57fa\u56e0\u300d\u5bf9MiniMax\u6700\u663e\u8457\u7684\u5f71\u54cd\uff0c\u5c31\u5728\u4e8e\u5176\u867d\u7136\u5e74\u8f7b\uff0c\u5374\u62e5\u6709\u51c6\u786e\u7684\u6280\u672f\u8def\u5f84\u9009\u62e9\u4e0e\u6781\u9ad8\u7684\u6267\u884c\u6548\u7387\u3002<\/p>\n

\u4e0d\u4ec5\u521b\u59cb\u4eba\u5e74\u8f7b\uff0cMiniMax\u540c\u6837\u96c6\u7ed3\u4e86\u4e00\u6279\u5e74\u8f7b\u5458\u5de5\u2014\u2014\u5168\u5458385\u4eba\uff0c\u5e73\u5747\u5e74\u9f8429\u5c81\uff0895\u540e\uff09\u3002<\/p>\n

\u800c\u8fd9385\u540d\u5458\u5de5\u4e2d\uff0c\u7814\u53d1\u4eba\u5458\u5360\u6bd4\u9ad8\u8fbe73.8%\u3002<\/p>\n

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\u6572\u949f\u58f0\u5373\u5c06\u54cd\u8d77\u4e4b\u9645\uff0cMiniMax\u9009\u62e9\u7528\u4e00\u573a\u300cAI\u5c0f\u5267\u573a\u300d\uff0c\u4e3a\u8fd9\u300c\u9b54\u5e7b\u300d\u7684\u4e00\u5e74\u4f5c\u6ce8\u3002<\/p>\n

MiniMax\u7a00\u5b87\u79d1\u6280<\/p>\n

\uff0c\u8d5e2593<\/p>\n

\u5728\u8fd9\u573a\u7279\u522b\u7684\u300c\u805a\u4f1a\u300d\u4e2d\uff0cMiniMax\u5e76\u672a\u56de\u907f\u5f53\u4e0bAIGC\u4ecd\u672a\u514b\u670d\u7684\u79cd\u79cd\u6280\u672f\u96be\u9898\uff0c\u800c\u662f\u4ee5\u5e7d\u9ed8\u7684\u65b9\u5f0f\uff0c\u5c06\u8fd9\u4e9b\u7455\u75b5\u76f4\u63a5\u5448\u73b0\u5728\u5927\u8367\u5e55\u4e0a\u3002<\/p>\n

MiniMax\u5bf9\u6b64\u7684\u89e3\u8bfb\u662f\uff1a<\/p>\n

\u5728\u8fd9\u6bb55\u5206\u949f\u7684\u6545\u4e8b\u91cc\uff0c\u6ca1\u6709\u70ab\u6280\uff0c\u53ea\u6709\u6700\u771f\u5b9e\u3001\u751a\u81f3\u6709\u4e9b\u72fc\u72c8\u7684\u544a\u767d\u3002 \u6709\u4e00\u4e2a\u5f71\u5b50\u6216\u8bb8\u5c31\u662f\u4f60\uff0c\u6216\u8005\u662f\u6bcf\u4e00\u4e2a\u5728\u8fc7\u53bb\u4e00\u5e74\u91cc\u52aa\u529b\u5954\u8dd1\u3001\u5374\u5076\u5c14\u8e09\u8dc4\u7684\u6211\u4eec\u3002<\/p>\n

\u5f53\u516c\u53f8\u56e0\u7814\u53d1\u6295\u5165\u6301\u7eed\u5931\u8840\uff0c\u5e02\u573a\u4e3a\u6ce1\u6cab\u4e89\u8bba\u4e0d\u4f11\u4e4b\u9645\uff0c\u8be5\u884c\u4e1a\u4f9d\u7136\u9009\u62e9\u7ee7\u7eed\u5168\u4ed3\u52a0\u7801\u3002<\/p>\n

\u7845\u8c37\u7684\u9009\u62e9\u662f\u300c\u8d44\u672c\u5185\u5faa\u73af\u300d\uff0c\u6a21\u578b\u5382\u5546\u548c\u82af\u7247\u4f9b\u5e94\u5546\u5de6\u624b\u5012\u53f3\u624b\uff0c\u5de6\u811a\u8e29\u53f3\u811a\u62c9\u9ad8\u4f30\u503c\u3002\u800c\u667a\u8c31\u548cMiniMax\uff0c\u9009\u62e9\u9762\u5411\u4e8c\u7ea7\u5e02\u573a\uff0c\u7387\u5148\u8d70\u4e0a\u4e86\u6572\u949f\u53f0\u3002<\/p>\n

AGI\u7684\u5f7c\u5cb8\u7a76\u7adf\u8fd8\u6709\u591a\u8fdc\uff0c\u6ca1\u6709\u4eba\u77e5\u9053\u3002\u4f46\u724c\u684c\u4e0a\u7684\u73a9\u5bb6\uff0c\u4eca\u5e74\u4ecd\u5728\u5168\u901f\u5954\u8dd1\u3002<\/p>\n

\u5c31\u7528MiniMax\u81ea\u5df1\u7684\u8bdd\uff0c\u4f5c\u4e3a\u51762025\u5e74\u7684\u6ce8\u811a\u5427\u2014\u2014<\/p>\n

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\u53c2\u8003\u94fe\u63a5\uff1a[1]https:\/\/www.bloomberg.com\/news\/articles\/2025-12-30\/alibaba-abu-dhabi-set-to-invest-in-minimax-s-600-million-ipo?embedded-checkout=true[2]https:\/\/baijiahao.baidu.com\/s?id=1852980336240113598&wfr=spider&for=pc[3]https:\/\/mp.weixin.qq.com\/s\/rMgkUAvZElPmxyVDMENFHw<\/p>\n

\n

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