MiniMax

Commercial multimodal and coding models for consumers and developers (flagship M3), monetization-led growth.

Founded: 2021
Headquarters: Shanghai, China
Now: Hong Kong-listed since 2026-01 (shares +80% since IPO). First-half 2026 revenue up 283% year on year, adjusted net loss $293M; M3 ranks 18th on Artificial Analysis's Intelligence Index (CNBC, 2026-08-27).

Funding

MiniMax Music 3.0 13 August 2026
Music 3.0 composes full songs up to five minutes in one generation, with open weights built from an 8B LLM plus a flow-matching renderer.
MiniMax H3 (Hailuo) 31 July 2026
MiniMax H3 is an open-weights audio-video model that makes 2K, 15-second clips with native stereo sound, priced below a third of mainstream models at 2K.
MiniMax M3 1 June 2026
Natively multimodal ~428B-total (~23B active) model with MiniMax Sparse Attention for 1M context at about 1/20 the per-token cost of M2; 80.5% SWE-bench Verified.
MiniMax M2.7 18 March 2026
Billed as MiniMax's first self-evolving model. Autonomous optimization over 100+ rounds is said to have yielded a 30% gain on an internal version.
MiniMax M2.5 12 February 2026
229B MoE reaching 80.2% on SWE-bench Verified and 76.3% on BrowseComp, priced so that an hour of 100 tokens/s costs about $1.
MiniMax Speech 2.8 23 January 2026
Speech 2.8 adds native filler/breath 'sound tags', 10-second voice cloning and cleaner audio, with Mandarin-Japanese accent fixes.
MiniMax-M2.1 23 December 2025
Coding-polish update covering Rust, Java, Go, C++, Kotlin and mobile (Android and iOS) development, with more concise reasoning chains.
MiniMax-M2 27 October 2025
230B-total, 10B-active open MoE built for coding and agents with interleaved thinking; scored 61 on the Artificial Analysis index, ranked first among open models.

14 launches and papers since September 2024, oldest first within each year.

2026 6: MiniMax Speech 2.8, MiniMax M2.5, MiniMax M2.7, MiniMax M3, MiniMax H3 (Hailuo), MiniMax Music 3.0
2025 7: MiniMax-01 (lightning attention), MiniMax-Text-01 and MiniMax-VL-01, Hailuo 02 and Hailuo 2.3, MiniMax-M1, Studios v. MiniMax (Hailuo), MiniMax-M2, MiniMax-M2.1
2024 1: Hailuo AI (video-01)

This profile was checked against its sources on 6 October 2026. How we check