AI Tiger MiniMax Doubles Value in Hong Kong IPO

MiniMax Group, the second of China’s “AI tigers” to go public, has seen its shares skyrocket. The stock doubled in value during its first day of trading in Hong Kong. Investors enthusiastically pursued the startup, which develops popular consumer AI applications like the video tool Hailuo AI and the character interaction app Talkie. The company raised $620 million in its initial public offering to fund further research and development. MiniMax’s successful debut outshined that of Zhipu AI, the first AI tiger to list. The high investor demand highlights a strong appetite for consumer-facing AI technology. Analysts suggest MiniMax’s consumer focus presents higher growth opportunities compared to Zhipu's enterprise-oriented model.