MiniMax Group, a generative AI startup based in Shanghai, saw its shares jump as much as 54% in its Hong Kong trading debut following a US$619 million IPO on January 9, 2026.

The listing drew strong demand from retail investors, who subscribed to more than 1,830 times the shares available.

MiniMax is backed by Alibaba and Abu Dhabi’s sovereign wealth fund, and is among the first major Chinese AI companies to go public after the rise of ChatGPT.

The company’s first-day performance follows a lower-key debut by rival Zhipu, which closed up 13% on its first day.

🔗 Source: Bloomberg

Recent MiniMax developments