MiniMax Group, listed as 0100 in Hong Kong, has completed a new funding round totaling $2 billion, the company disclosed in a post attributed to its Head of Developer Relations, Ryan Lee. The announcement comes as the firm reiterates a concentrated effort on developing artificial general intelligence - often abbreviated as AGI.
According to Lee's post, the company's CEO, IO, outlined three long-range commitments that accompany the fundraising. First, IO will not take a salary until the company attains AGI. Second, he will transfer equity from his personal holdings amounting to 4% of MiniMax's total outstanding shares over the next four years to reward long-term employees. Third, IO will allocate an additional 1% of the company's equity to support the open-source community.
In a separate filing with the exchange, MiniMax said the $2 billion will be raised through a combination of a share placement and a zero-coupon convertible bond offering, roughly equal to HK$16 billion. The company spelled out its intended uses for the proceeds: AI infrastructure, model research and development, global expansion and its suite of AI agent products branded as "Harness."
MiniMax said approximately 80% of the capital raised will be directed toward expanding AI infrastructure and supporting model R&D. The filing linked the capital plan to what the company described as a surge in demand: its enterprise and developer customer base grew to more than 1 million by the end of June from about 200,000 at the end of 2025, and its consumer-facing products reached roughly 300 million users worldwide.
The funding and the CEO's equity and salary commitments illustrate MiniMax's strategy to concentrate resources on technical scale-up and ecosystem support. The exchange filing frames the financing as a vehicle to underpin both the backend compute and research investments required to pursue advanced AI systems while simultaneously supporting product expansion internationally and the company's AI agent offerings.
Summary
MiniMax closed a $2 billion fundraising round via a share placement and a zero-coupon convertible bond offering. The CEO announced he will forgo salary until AGI is achieved, will allocate shares equal to 4% of total equity from his personal holdings over four years for employees, and will dedicate 1% of equity to the open-source community. About 80% of proceeds will be used for AI infrastructure and model R&D; the company reported growth to more than 1 million enterprise and developer customers and roughly 300 million consumer users.