Alibaba Leads $600M Funding Round for Chinese AI Startup MiniMax at $2B+ Valuation
• Alibaba said to lead $600M+ funding round for Chinese AI startup MiniMax at $2B+ valuation • Comes amid strong interest and deals in Chinese generative AI startups like MiniMax after ChatGPT release • Would be Alibaba's 2nd big Chinese AI startup investment in 2023 after leading $1B+ round for Moonshot AI • Alibaba also previously backed Chinese AI startups Zhipu AI and Sogou's Wang Xiaochuan's Baichuan AI • Aligns with Alibaba's strategic focus on "users first" and "AI-driven" tech like large language models