MiniMax officially announced the completion of a new round of financing worth 1.6 billion Hong Kong dollars. According to the announcement, the company plans to allocate 80% of the net proceeds from the fundraising to AI infrastructure and research and development of models, further solidifying its technical foundation. On the same day, Yan Junjie, founder and CEO of MiniMax, released an internal letter to all employees, responding to recent market fluctuations and making several major personal commitments.

Founder receives no salary, grants 5% shares to motivate team and open-source community

In the internal letter, Yan Junjie announced that starting immediately until the company achieves AGI, he will no longer receive any salary from the company. At the same time, over the next four years, he will allocate 4% of his personal shares, representing the total share capital of the company, to motivate team members who have been with the company for the long term and created value together; additionally, he will set aside 1% of shares to establish a special fund to continuously support related open-source communities.

In the letter, Yan Junjie stated that teams at the forefront of the industry can better perceive the real speed of technological advancement and are also more aware of the long-term value the company is accumulating. He will dedicate all his time, energy, and resources to the company's development, which he views as "a long-term commitment as a founder."

Industry experts: Enhanced funding reserves help promote commercialization