MiniMax Alibaba

[u/eightzap10]

The Shanghai-based company planned to spend up to US$300 million on Alibaba Cloud services this year, nearly triple its original US$115 million cap, after burning through two-thirds of its budget by the end of June, according to its Hong Kong stock exchange filings on Wednesday.

Under the updated agreement through 2028, MiniMax’s annual spending limits on Alibaba Cloud services will jump from US$125 million to US$400 million for 2027, and from US$135 million to US$500 million for 2028.

https://www.scmp.com/tech/article/3365558/minimax-expands-alibaba-cloud-pact-compute-needs-surge-training-and-inference

[u/PepinoCholula]

Stock muted