{"id":37910,"date":"2026-01-14T18:00:28","date_gmt":"2026-01-14T10:00:28","guid":{"rendered":"http:\/\/cxounion.cn\/?p=37910"},"modified":"2026-01-14T18:00:33","modified_gmt":"2026-01-14T10:00:33","slug":"%e3%80%90%e4%b8%8a%e5%b8%82%e8%b5%84%e8%ae%af%e3%80%91minimax%e6%95%b2%e9%92%9f%e4%b8%8a%e5%b8%82%ef%bc%8c%e5%b8%82%e5%80%bc%e9%ab%98%e8%be%be827%e4%ba%bf%e6%b8%af%e5%85%83%ef%bc%81","status":"publish","type":"post","link":"http:\/\/cxounion.cn\/index.php\/2026\/01\/14\/%e3%80%90%e4%b8%8a%e5%b8%82%e8%b5%84%e8%ae%af%e3%80%91minimax%e6%95%b2%e9%92%9f%e4%b8%8a%e5%b8%82%ef%bc%8c%e5%b8%82%e5%80%bc%e9%ab%98%e8%be%be827%e4%ba%bf%e6%b8%af%e5%85%83%ef%bc%81\/","title":{"rendered":"\u3010\u4e0a\u5e02\u8d44\u8baf\u3011MiniMax\u6572\u949f\u4e0a\u5e02\uff0c\u5e02\u503c\u9ad8\u8fbe827\u4ebf\u6e2f\u5143\uff01"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"640\" height=\"427\" src=\"http:\/\/cxounion.cn\/wp-content\/uploads\/2026\/01\/image-90.png\" alt=\"\" class=\"wp-image-37911\" srcset=\"http:\/\/cxounion.cn\/wp-content\/uploads\/2026\/01\/image-90.png 640w, http:\/\/cxounion.cn\/wp-content\/uploads\/2026\/01\/image-90-300x200.png 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/figure>\n\n\n\n<p>\u667a\u8c31\u4e0a\u5e02\u4e4b\u540e\uff0cMiniMax\u6253\u54cd\u4e2d\u56fd\u5927\u6a21\u578bIPO\u7684\u7b2c\u4e8c\u67aa\uff01<\/p>\n\n\n\n<p>\u521a\u521a\uff0cMiniMax\uff080100.HK\uff09\u6b63\u5f0f\u767b\u9646\u6e2f\u4ea4\u6240\u4e0a\u5e02\uff0c\u53d1\u884c\u4ef7\u4e3a165\u6e2f\u5143\uff08\u7ea6\u5408\u4eba\u6c11\u5e01147.9\u5143\uff09\uff0c\u5f00\u76d8\u4ef7\u4e3a235.4\u6e2f\u5143\uff08\u7ea6\u5408\u4eba\u6c11\u5e01211.0\u5143\uff09\uff0c\u8f83\u53d1\u884c\u4ef7<strong>\u4e0a\u6da842.67%\uff0c\u76ee\u524d<\/strong>\u5df2\u6da8\u5230270.8\u6e2f\u5143\uff0c\u603b\u5e02\u503c\u7ea6\u4e3a827<strong>\u4ebf\u6e2f\u5143<\/strong>\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q9.itc.cn\/q_70\/images03\/20260109\/293dc0b716964f56a7eb4a5989147dda.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>MiniMax\u6b64\u6b21\u5f15\u5165\u5305\u62ecAspex\u3001Eastspring\u3001Mirae Asset\u3001\u963f\u91cc\u5df4\u5df4\u53ca\u6613\u65b9\u8fbe\u5728\u5185\u768414\u5bb6\u57fa\u77f3\u6295\u8d44\u8005\uff0c\u8ba4\u8d2d\u603b\u989d3.5\u4ebf\u7f8e\u5143\uff08\u7ea627.23\u4ebf\u6e2f\u5143\uff09\u3002<\/p>\n\n\n\n<p>\u5176\u80cc\u540e\u80a1\u4e1c\u9635\u5bb9\u4e5f\u76f8\u5f53\u8c6a\u534e\uff0c\u83b7\u5f97<strong>\u7c73\u54c8\u6e38\u3001\u963f\u91cc\u3001\u817e\u8baf\u3001\u5c0f\u7ea2\u4e66\u3001\u9ad8\u74f4\u3001IDG\u3001\u7ea2\u6749\u3001\u7ecf\u7eac\u3001\u660e\u52bf\u3001\u4e91\u542f<\/strong>\u7b49\u591a\u5bb6\u9876\u5c16\u673a\u6784\u7684\u6295\u8d44\u548c\u652f\u6301\u3002<\/p>\n\n\n\n<p>1 \u6708 8 \u65e5\u4e0b\u5348\u7684\u6697\u76d8\u4ea4\u6613\u663e\u793a\uff0cMiniMax \u5f00\u76d8\u540e\u6301\u7eed\u8d70\u9ad8\uff0c\u6700\u9ad8\u89e6\u53ca 211.2 \u6e2f\u5143\/\u80a1\uff0c\u6700\u4f4e\u56de\u843d\u81f3 180 \u6e2f\u5143\/\u80a1\u9644\u8fd1\uff0c\u6700\u7ec8\u6536\u4e8e 205.6 \u6e2f\u5143\/\u80a1\uff0c\u6da8\u5e45\u8fbe 24.6%\u3002<\/p>\n\n\n\n<p>\u8fd9\u5bb6\u5458\u5de5\u5e73\u5747\u5e74\u9f84\u4ec529\u5c81\u7684\u201c\u5e74\u8f7b\u5316\u201dAI\u516c\u53f8\uff0c\u4ece\u6210\u7acb\u5230\u5b8c\u6210\u6e2f\u80a1IPO\u4ec5\u7528\u65f6\u56db\u5e74\uff0c\u6210\u529f\u5237\u65b0\u5168\u7403AI\u9886\u57df\u4ece\u521b\u7acb\u5230\u4e0a\u5e02\u7684\u6700\u77ed\u65f6\u95f4\u7eaa\u5f55\u3002<\/p>\n\n\n\n<p>\u7528\u6237\u8d852\u4ebf<\/p>\n\n\n\n<p>\u6d77\u5916\u6536\u5165\u5360\u6bd4\u8d85 70%<\/p>\n\n\n\n<p>MiniMax \u4e8e 2022 \u5e74 1 \u6708\u6210\u7acb\uff0c\u603b\u90e8\u4f4d\u4e8e\u4e0a\u6d77\uff0c\u7531\u524d\u5546\u6c64\u79d1\u6280\u9ad8\u7ba1\u95eb\u4fca\u6770\u7b49\u4eba\u521b\u7acb\uff0c\u4e13\u6ce8\u4e8e\u7814\u53d1\u6587\u672c\u3001\u8bed\u97f3\u3001\u89c6\u89c9\u591a\u6a21\u6001\u878d\u5408\u7684\u901a\u7528\u4eba\u5de5\u667a\u80fd\u6280\u672f\uff08AGI\uff09\u3002\u65d7\u4e0b\u4ea7\u54c1\u4e3b\u8981\u6709MiniMax M1\u3001M2 \u57fa\u7840\u5927\u6a21\u578b\u53ca MiniMax \u8bed\u97f3\u3001\u6d77\u87ba AI\u3001\u661f\u91ce\u7b49\u7b49\u3002<\/p>\n\n\n\n<p>\u622a\u81f3\u76ee\u524d\uff0cMiniMax \u5df2\u6709\u8d85\u8fc7 200 \u4e2a\u56fd\u5bb6\u53ca\u5730\u533a\u7684\u903e 2.12 \u4ebf\u540d\u4e2a\u4eba\u7528\u6237\u4ee5\u53ca\u8d85\u8fc7 100 \u4e2a\u56fd\u5bb6\u7684 10 \u4e07\u4f59\u5bb6\u4f01\u4e1a\u53ca\u5f00\u53d1\u8005\u3002\u5176\u4e2d\uff0cAI \u539f\u751f\u4ea7\u54c1\u5e73\u5747\u6708\u6d3b\u8dc3\u7528\u6237\u4ece 2023 \u5e74\u7684 314.4 \u4e07\u5feb\u901f\u589e\u957f\u81f3 2025 \u5e74\u524d\u4e5d\u4e2a\u6708\u7684 2762.2 \u4e07\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q0.itc.cn\/q_70\/images03\/20260109\/b4fca24aa7214c0ca7fcaf063b19f950.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u4ece\u8425\u6536\u60c5\u51b5\u6765\u770b\uff0cMiniMax \u4e8e2023\u5e74\u5f00\u542f\u5546\u4e1a\u5316\uff0c\u5168\u5e74\u6536\u5165\u4e3a346\u4e07\u7f8e\u5143\uff1b2024\u5e74\u7684\u6536\u5165\u5219\u76f4\u63a5\u98d9\u5347\u52303052.3\u4e07\u7f8e\u5143\uff0c\u540c\u6bd4\u66b4\u6da8\u4e86<strong>782.2%<\/strong>\u3002<\/p>\n\n\n\n<p>2025\u5e74\u524d\u4e5d\u4e2a\u6708\uff0c\u516c\u53f8\u8425\u6536\u5927\u6da8175.07%\uff0c\u9ad8\u8fbe5343.7\u4e07\u7f8e\u5143\uff0c\u76f8\u5f53\u4e8e\u8d85\u8fc7\u4e86\u53bb\u5e74\u5168\u5e74\u603b\u6536\u5165\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q1.itc.cn\/q_70\/images03\/20260109\/6e791cdb7a7549e98de10c192985d5a4.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u5728 To C \u65b9\u9762\uff0cMiniMax \u901a\u8fc7\u6d77\u87ba AI\u3001\u661f\u91ce \/ Talkie\uff08AI \u793e\u4ea4\uff09\u3001MiniMax \u8bed\u97f3\u7b49\u539f\u751f\u4ea7\u54c1\u76f4\u63a5\u670d\u52a1\u5168\u7403\u6d88\u8d39\u8005\u3002\u622a\u81f3 2025\u5e749 \u6708 30 \u65e5\uff0cTo C \u6536\u5165\u540c\u6bd4\u589e\u957f 181%\uff0c\u4ed8\u8d39\u7528\u6237\u6570\u5728\u4e0d\u5230\u4e24\u5e74\u5185\u66b4\u6da8 15 \u500d\u3002<\/p>\n\n\n\n<p>\u5728 To B \u65b9\u9762\uff0cMiniMax \u901a\u8fc7\u5f00\u653e\u5e73\u53f0\u8d4b\u80fd\u591a\u4e2a\u884c\u4e1a\uff0c\u5c06\u9886\u5148\u7684\u6a21\u578b\u80fd\u529b\u4ee5 API \u65b9\u5f0f\u63d0\u4f9b\u7ed9\u4f01\u4e1a\u548c\u5f00\u53d1\u8005\u3002\u5176\u5f00\u653e\u5e73\u53f0\u65e5\u5747\u5904\u7406\u8d85\u4e07\u4ebf Token \u8bf7\u6c42\uff0cTo B \u6536\u5165\u5b9e\u73b0\u540c\u6bd4 160% \u7684\u9ad8\u589e\u957f\u3002<\/p>\n\n\n\n<p>\u7531\u4e8e\u6a21\u578b\u667a\u80fd\u6c34\u5e73\u53ca\u63a8\u7406\u6548\u7387\u7684\u63d0\u5347\uff0cMiniMax\u7684<strong>\u6838\u5fc3\u76c8\u5229\u80fd\u529b\u4e5f\u5728\u4e0d\u65ad<\/strong>\u589e\u5f3a\u3002\u516c\u53f8\u6bdb\u5229\u7387\u4ece2023\u5e74\u7684-24.7%\uff0c\u5feb\u901f\u8f6c\u6b63\u52302024\u5e74\u768412.2%\uff0c2025\u5e74\u524d9\u4e2a\u6708\u7ee7\u7eed\u63d0\u5347\u81f3<strong>23.3%\u3002<\/strong><\/p>\n\n\n\n<p>C\u7aef\u548cB\u7aef\u7684\u6bdb\u5229\u7387\u5206\u522b\u4e3a4.7%\u548c69.4%\uff0cB\u7aef\u6bdb\u5229\u663e\u8457\u8f83\u9ad8\uff0c\u4e14\u660e\u663e\u9ad8\u4e8e\u884c\u4e1a\u5e73\u5747\u6c34\u5e73\uff0c\u662f\u7531\u4e8e\u516c\u53f8\u65e9\u65e9\u8fdb\u884c\u5168\u7403\u5316\u5e03\u5c40\uff0c\u5e76\u53d7\u76ca\u4e8e\u53ef\u6301\u7eed\u7684\u4e91\u7aefAPI\u8c03\u7528\u5236\u5546\u4e1a\u6a21\u5f0f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q6.itc.cn\/q_70\/images03\/20260109\/767af4e5fad64acfb2d25df42551937b.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u201c\u5168\u7403\u5316\u201d\u662fMiniMax\u521b\u7acb\u4e4b\u5904\u5c31\u62bc\u6ce8\u7684\u6218\u7565\u8def\u7ebf\u4e4b\u4e00\u3002\u62db\u80a1\u4e66\u663e\u793a\uff0cMiniMax\u7684\u6d77\u5916\u5e02\u573a\u6536\u5165\u8d21\u732e\u5360\u6bd4\u8d85\u8fc7 70%\u3002<\/p>\n\n\n\n<p>\u5168\u6a21\u6001 AI \u6280\u672f\u5e03\u5c40<\/p>\n\n\n\n<p>\u6d89\u730e\u6587\u672c\u3001\u89c6\u9891\u3001\u97f3\u9891\u591a\u9886\u57df<\/p>\n\n\n\n<p>MiniMax \u662f\u5c11\u6570\u81ea\u6210\u7acb\u4e4b\u521d\u4fbf\u7cfb\u7edf\u6027\u6295\u5165<strong>\u5168\u6a21\u6001\u5927\u6a21\u578b<\/strong>\u7814\u53d1\u7684\u516c\u53f8\u3002\u4ece\u521b\u4e1a\u7684\u7b2c\u4e00\u5929\u8d77\uff0cMiniMax \u5c31\u62bc\u6ce8\u591a\u6a21\u6001\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q4.itc.cn\/q_70\/images03\/20260109\/07c0f336acab478eb03fe9f8405d0086.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u5728\u4e0e\u7f57\u6c38\u6d69\u7684\u5bf9\u8c08\u4e2d\uff0cMiniMax \u521b\u59cb\u4eba\u95eb\u4fca\u6770\u66fe\u8868\u793a\uff1a<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c\u6211\u4eec\u89c9\u5f97\u771f\u6b63\u7684AGI\uff0c\u4e00\u5b9a\u8981\u652f\u6301\u591a\u6a21\u6001\u7684\u8f93\u5165\u3001\u591a\u6a21\u6001\u7684\u8f93\u51fa\uff0c\u53ea\u662f\u8fd9\u4ef6\u4e8b\u5b9e\u5728\u592a\u96be\u4e86\uff0c\u4e09\u5e74\u591a\u4ee5\u524d\uff0c\u6211\u4eec\u521a\u5f00\u59cb\u505a\u7684\u65f6\u5019\uff0c\u521b\u4e1a\u7684\u65f6\u5019\uff0c\u90a3\u4e2a\u65f6\u5019\u5176\u5b9e\u5b8c\u5168\u6ca1\u6709\u6280\u672f\u8def\u7ebf\uff0c\u6211\u4eec\u7684\u60f3\u6cd5\u5c31\u662f\u6bcf\u4e2a\u6a21\u6001\u81f3\u5c11\u5148\u8d70\u901a\uff0c\u5230\u4e86\u65f6\u673a\u5408\u9002\u7684\u65f6\u5019\u5c31\u53ef\u4ee5\u518d\u8d77\u6765\u6574\u5408\u3002\u201d<\/p>\n<\/blockquote>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q7.itc.cn\/q_70\/images03\/20260109\/6b715739031b496b944e5b849fc6d5db.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u5728<strong>\u6587\u672c\u6a21\u578b\u65b9\u9762<\/strong>\uff0cMiniMax \u4e8e2025\u5e74 6 \u6708\u53d1\u5e03\u5e76\u5f00\u6e90 M1\uff0c\u4ec5\u56db\u4e2a\u6708\u540e\u4fbf\u63a8\u51fa M2\u3002<\/p>\n\n\n\n<p>MiniMax-M2 \u5728 Artificial Analysis \u699c\u5355\u4e2d\u5237\u65b0\u56fd\u4ea7\u6587\u672c\u6a21\u578b\u5386\u53f2\u6700\u597d\u6210\u7ee9\u2014\u2014<strong>\u5168\u7403\u524d\u4e94\u3001\u5f00\u6e90\u7b2c\u4e00<\/strong>\u3002\u8be5\u6a21\u578b\u9762\u5411\u667a\u80fd\u4f53\u4e0e\u7f16\u7a0b\u573a\u666f\u6df1\u5ea6\u4f18\u5316\uff0c\u5728\u4ee3\u7801\u80fd\u529b\u548c Agent \u8868\u73b0\u4e0a\u8868\u73b0\u7a81\u51fa\uff0c\u540c\u65f6\u517c\u987e\u6210\u672c\u6548\u7387\uff1a\u63a8\u7406\u901f\u5ea6\u7ea6\u4e3a Claude 4.5 Sonnet \u7684\u4e24\u500d\uff0c\u800c API \u4ef7\u683c\u4ec5\u4e3a\u5176 8%\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q4.itc.cn\/q_70\/images03\/20260109\/1d43521c8eec47e8a7aaeca17394271d.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u5e02\u573a\u53cd\u9988\u540c\u6837\u76f4\u63a5\u3002\u5728 OpenRouter \u7b49\u6a21\u578b\u805a\u5408\u5e73\u53f0\u4e0a\uff0cMiniMax M2 \u7684\u65e5\u6d88\u8017\u91cf\u4e00\u5ea6\u8dfb\u8eab\u5168\u7403\u524d\u4e09\uff0c\u6210\u4e3a\u6700\u53d7\u5f00\u53d1\u8005\u6b22\u8fce\u7684\u4e2d\u56fd\u6a21\u578b\u4e4b\u4e00\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q4.itc.cn\/q_70\/images03\/20260109\/a8524f45e105482c9d7c94c6b56d60f6.jpeg\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u6700\u65b0\u6a21\u578bMiniMax-M2.1\u4e8e2025\u5e7412\u670823\u65e5\u53d1\u5e03\uff0c\u8fd9\u662f\u4e00\u4e2a\u4ec5\u670910B\u6fc0\u6d3b\u53c2\u6570\u7684\u5c0f\u6a21\u578b\uff0c\u4e3b\u6253<strong>\u591a\u8bed\u8a00\u7f16\u7a0b\u5f00\u53d1<\/strong>\u548c<strong>\u590d\u6742\u529e\u516c\u4efb\u52a1\u3002<\/strong><\/p>\n\n\n\n<p>\u5728 SWE-bench Multilingual \u591a\u8bed\u8a00\u8bc4\u6d4b\u4e2d\uff0cM2.1 \u4ee5 72.5% \u7684\u6210\u7ee9\u62ff\u4e0b\u4e86 SOTA\uff0c\u8d85\u8d8a\u4e86&nbsp;Gemini 3 Pro\u548c Claude Sonnet 4.5\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q8.itc.cn\/q_70\/images03\/20260109\/680879a0da7445d28df1fb2d8cacc5ca.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u5728<strong>\u8bed\u97f3\u6a21\u578b\u65b9\u9762<\/strong>\uff0cMiniMax \u65e9\u5728 2023 \u5e74\u5c31\u63a8\u51fa\u4e86\u57fa\u4e8e Transformer \u67b6\u6784\u7684 Speech 01\uff0c\u968f\u540e\u5728 2024 \u5e74\u53d1\u5e03\u5347\u7ea7\u7248 Speech 02\uff0c\u5e76\u6301\u7eed\u8fed\u4ee3\u81f3 2.6 \u7248\u672c\u3002\u76ee\u524d\u8be5\u6a21\u578b\u652f\u6301 40 \u4f59\u79cd\u8bed\u8a00\uff0c\u7d2f\u8ba1\u751f\u6210\u8bed\u97f3\u8d85\u8fc7 2.2 \u4ebf\u5c0f\u65f6\u3002<\/p>\n\n\n\n<p>\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u652f\u6491 ChatGPT \u9ad8\u7ea7\u8bed\u97f3\u6a21\u5f0f\u7684 LiveKit\uff0c\u5e95\u5c42\u5f15\u64ce\u7528\u7684\u4e5f\u662f\u4e5f\u9009\u62e9 MiniMax Speech\uff0c\u8be5\u6a21\u578b\u8fd8\u88ab\u5e7f\u6cdb\u5e94\u7528\u4e8e\u667a\u80fd\u73a9\u5177\u3001\u667a\u80fd\u773c\u955c\u7b49\u65b0\u5f62\u6001\u7ec8\u7aef\u3002<\/p>\n\n\n\n<p>\u5728<strong>\u97f3\u4e50\u751f\u6210<\/strong>\u65b9\u9762\uff0cMiniMax \u7684 Music 2.0 \u80fd\u591f\u751f\u6210\u957f\u8fbe 5 \u5206\u949f\u3001\u5177\u5907\u5b8c\u6574\u7ed3\u6784\u7684\u4e13\u4e1a\u7ea7\u6b4c\u66f2\uff0c\u4eba\u58f0\u62df\u771f\u5ea6\u548c\u7f16\u66f2\u63a7\u5236\u80fd\u529b\u5747\u5904\u4e8e\u884c\u4e1a\u524d\u5217\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q6.itc.cn\/q_70\/images03\/20260109\/d610b8e9d94c4696a0a9197029c88b1c.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u5728<strong>\u89c6\u9891\u6a21\u578b\u65b9\u9762<\/strong>\uff0cMiniMax\u65d7\u4e0b\u7684\u6d77\u87baAI \u652f\u6301\u6587\u751f\u89c6\u9891\u3001\u56fe\u751f\u89c6\u9891\u3001\u4e3b\u4f53\u53c2\u8003\u3001\u9996\u5c3e\u5e27\u7b49\u80fd\u529b\uff0c\u5728 VBench\u3001Video Arena \u7b49\u56fd\u9645\u7b2c\u4e09\u65b9\u8bc4\u6d4b\u4e2d\u4f4d\u5c45\u7b2c\u4e00\u68af\u961f\uff0c\u540c\u65f6\u4ee5\u6781\u5177\u7ade\u4e89\u529b\u7684\u6210\u672c\u5237\u65b0\u4e86\u5168\u7403\u89c6\u9891\u6a21\u578b\u7684\u6548\u679c\u6210\u672c\u7eaa\u5f55\u3002\u622a\u81f3\u76ee\u524d\uff0c\u6d77\u87ba AI \u5df2\u5e2e\u52a9\u5168\u7403\u7528\u6237\u521b\u4f5c\u8d85\u8fc7 5.9 \u4ebf\u6761\u89c6\u9891\uff0c\u6210\u4e3a\u9886\u5148\u7684 AI \u89c6\u9891\u751f\u6210\u5e73\u53f0\u4e4b\u4e00\u3002<\/p>\n\n\n\n<p>\u6b64\u5916\uff0cMinimax\u8fd8\u63a8\u51fa\u4e86\u56fd\u5185\u9996\u6b3e\u5168\u6808\u901a\u7528\u667a\u80fd\u4f53MiniMax Agent\uff0c\u4ee5\u53ca\u652f\u6301\u7528\u6237\u81ea\u7531\u521b\u9020\u548c\u5206\u4eabAI Agent\u7684\u4ea4\u4e92\u5e73\u53f0<strong>\u661f\u91ce<\/strong>\uff08Talkie\uff09\u3002<\/p>\n\n\n\n<p>\u7814\u53d1\u6295\u5165\u9ad8\u8fbe1.8\u4ebf\uff0c<\/p>\n\n\n\n<p>\u8d26\u4e0a\u8d8510\u4ebf\u7f8e\u91d1<\/p>\n\n\n\n<p>\u4e0e\u667a\u8c31\u7c7b\u4f3c\uff0cMiniMax \u76ee\u524d\u4ecd\u5904\u4e8e\u6301\u7eed\u9ad8\u7814\u53d1\u6295\u5165\u9636\u6bb5\uff0c\u5feb\u901f\u8fed\u4ee3\u5927\u6a21\u578b\uff0c\u5c1a\u672a\u5b9e\u73b0\u76c8\u5229\u3002<\/p>\n\n\n\n<p><strong>\u62db\u80a1\u4e66\u663e\u793a\uff0c\u4ee5\u8bad\u7ec3\u76f8\u5173\u7684\u4e91\u8ba1\u7b97\u670d\u52a1\u5f00\u652f\u4e3a\u4f8b\uff0c2022\u5e74\u30012023\u5e74\u30012024\u5e74\u53ca2025\u5e74\u524d\u4e5d\u4e2a\u6708\uff0c\u8bad\u7ec3\u6210\u672c\u5206\u522b\u4e3a415\u4e07\u7f8e\u5143\u30014723\u4e07\u7f8e\u5143\u30011.4\u4ebf\u7f8e\u5143\u548c1.42\u4ebf\u7f8e\u5143\u3002\u6574\u4f53\u5448\u73b0\u6301\u7eed\u6500\u5347\u3002<\/strong><\/p>\n\n\n\n<p>\u5927\u91cf\u7814\u53d1\u652f\u51fa\u9020\u6210\u7684\u4e8f\u635f\u4e5f\u4e0d\u662f\u4e00\u7b14\u5c0f\u6570\u76ee\uff1a2022\u5e74\u30012023\u5e74\u548c2024\u5e74\uff0cMiniMax\u7ecf\u8c03\u6574\u51c0\u4e8f\u635f\u5206\u522b\u4e3a1215\u4e07\u7f8e\u5143\u30018907\u4e07\u7f8e\u5143\u548c2.44\u4ebf\u7f8e\u5143\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q0.itc.cn\/q_70\/images03\/20260109\/4562e2efbbcc4e14b5871565c6f8eefe.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>2025 \u5e74\u524d\u4e5d\u4e2a\u6708\uff0cMiniMax \u7684\u7ecf\u8c03\u6574\u51c0\u4e8f\u635f\u8fbe 1.86 \u4ebf\u7f8e\u5143\uff08\u7ecf\u8c03\u6574\u51c0\u4e8f\u635f\uff0cNon-IFRS \u8ba1\u91cf\u6307\u6807\uff09\uff0c\u5176\u4e2d\u7814\u53d1\u5f00\u652f\u8fbe 1.8 \u4ebf\u7f8e\u5143\uff0c\u76f8\u5f53\u4e8e\u603b\u6536\u5165\u7684 337.4%\u3002<\/p>\n\n\n\n<p>\u4e0d\u8fc7\uff0c\u4ece\u8bad\u7ec3\u6210\u672c\u5360\u6536\u5165\u7684\u6bd4\u4f8b\u6765\u770b\uff0c\u8fd9\u4e00\u538b\u529b\u5df2\u6709\u6240\u7f13\u89e3\u30022023\u5e74\uff0c\u8be5\u6bd4\u4f8b\u4e00\u5ea6\u8d85\u8fc71365%\uff0c\u800c\u57282025\u5e74\u524d\u4e5d\u4e2a\u6708\u5df2\u964d\u81f3266.5%\u3002<\/p>\n\n\n\n<p>\u4e0d\u8fc7\u53ef\u559c\u7684\u662f\uff0cMiniMax\u7684\u73b0\u91d1\u5f39\u836f\u76f8\u5f53\u5145\u8db3\u3002\u62db\u80a1\u4e66\u663e\u793a\uff0c\u622a\u81f32025\u5e749\u670830\u65e5\uff0c\u516c\u53f8\u7684\u73b0\u91d1\u50a8\u5907\u5408\u8ba1\u4e3a<strong>11.02\u4ebf\u7f8e\u5143<\/strong>\uff08\u5305\u62ec\u73b0\u91d1\u53ca\u7b49\u4ef7\u7269\u548c\u7406\u8d22\u4ea7\u54c1\uff09\u3002<\/p>\n\n\n\n<p>\u4ee5\u516c\u53f8\u76ee\u524d\u7684\u73b0\u91d1\u6d88\u8017\u7387\u6765\u770b\uff0c\u5373\u4fbf\u6ca1\u6709IPO\u52df\u8d44\uff0c\u8d26\u4e0a\u7684\u73b0\u91d1\u4e5f\u8db3\u591f\u652f\u6301\u6b63\u5e38\u8fd0\u842553\u4e2a\u6708\u4ee5\u4e0a\u3002<\/p>\n\n\n\n<p>\u4eba\u574795\u540e<\/p>\n\n\n\n<p>\u7ba1\u7406\u5c42\u5e73\u5747\u5e74\u9f8432\u5c81<\/p>\n\n\n\n<p>\u518d\u6765\u770b\u770bMiniMax\u7684\u4eba\u5458\u7ed3\u6784\uff0c\u4e5f\u662f\u76f8\u5f53\u5e74\u8f7b\u5316\u3002<\/p>\n\n\n\n<p>\u516c\u53f8\u6574\u4f53\u5458\u5de5\u89c4\u6a21\u7ea6\u4e3a 385 \u4eba\uff0c\u5e73\u5747\u5e74\u9f8429\u5c81\uff0c\u5176\u4e2d\u7814\u53d1\u56e2\u961f\u7ea6 300 \u4eba\uff0c<strong>\u5360\u6bd4\u9ad8\u8fbe73.8%\uff0c\u4ee5\u201c95\u540e\u201d\u4e3a\u4e3b\uff0c\u5e76\u5438\u7eb3\u4e86\u5927\u91cf\u201c00\u540e\u201d\u5de5\u7a0b\u5e08\u3002<\/strong><\/p>\n\n\n\n<p>MiniMax \u7684\u56db\u4f4d\u6267\u884c\u8463\u4e8b\u5e73\u5747\u5e74\u9f84\u4ec5 32 \u5c81\uff0c\u5305\u62ec:\u516c\u53f8\u521b\u59cb\u4eba &amp; CEO \u95eb\u4fca\u6770\uff08 36 \u5c81\uff09\u3001COO \u8d20\u70e8\u794e\uff0831 \u5c81\uff09\u3001\u5927\u8bed\u8a00\u6a21\u578b\u7814\u7a76\u4e0e\u5de5\u7a0b\u8d1f\u8d23\u4eba\u8d75\u9e4f\u5b87\uff0829 \u5c81\uff09\u3001\u89c6\u89c9\u6a21\u578b\u7814\u7a76\u4e0e\u5de5\u7a0b\u8d1f\u8d23\u4eba\u5468\u5f67\u806a\uff0832 \u5c81\uff09\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q9.itc.cn\/q_70\/images03\/20260109\/520a040ed4a54c95b9ea0a7794a9c220.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u5728\u521b\u7acbMiniMax\u4e4b\u524d\uff0c<strong>\u95eb\u4fca\u6770\u66fe<\/strong>\u62c5\u4efb\u5546\u6c64\u79d1\u6280\u7684\u526f\u603b\u88c1\uff0c\u540c\u65f6\u4e5f\u662f\u5546\u6c64\u79d1\u6280\u7814\u7a76\u9662\u526f\u9662\u957f\u548c\u667a\u6167\u57ce\u5e02\u4e8b\u4e1a\u7fa4\u9996\u5e2d\u6280\u672f\u5b98\u3002\u4ed6\u662f\u5546\u6c64\u65e9\u671f\u7684\u5173\u952e\u6280\u672f\u4eba\u7269\u4e4b\u4e00\uff0c\u8d1f\u8d23\u642d\u5efa\u5546\u6c64\u7684\u6df1\u5ea6\u5b66\u4e60\u5de5\u5177\u94fe\u548c\u5e95\u5c42\u7b97\u6cd5\u4f53\u7cfb\u3002<\/p>\n\n\n\n<p><strong>\u5468\u5f67\u806a<\/strong>\u548c<strong>\u8d20\u70e8\u794e\u540c\u6837\u4ece\u5546\u6c64\u51fa\u8d70\uff0c\u4ed6\u4eec\u66fe\u5206\u522b\u62c5\u4efb\u5546\u6c64\u7b97\u6cd5\u56e2\u961f\u539f\u8d1f\u8d23\u4eba\u548c\u5546\u6c64CEO\u529e\u516c\u5ba4\u539f\u6218\u7565\u8d1f\u8d23\u4eba\u3002<\/strong><\/p>\n\n\n\n<p><strong>\u9664\u4e86\u5e74\u8f7b\uff0cMinaMax\u8fd8\u5177\u5907\u9ad8\u6548\u7684\u7ec4\u7ec7\u7ba1\u7406\u6a21\u5f0f\uff1a\u7ec4\u7ec7\u67b6\u6784\u9ad8\u5ea6\u6241\u5e73\u5316\uff0c\u5728CEO\u4e4b\u4e0b\u8bbe\u7acb\u7684\u804c\u7ea7<\/strong><strong>\u4e0d\u8d85\u8fc7\u4e09\u5c42<\/strong>\uff0c\u5b9e\u73b0\u4e86\u7ba1\u7406\u6548\u7387\u7684\u6307\u6570\u7ea7\u7f29\u653e\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/q7.itc.cn\/q_70\/images03\/20260109\/fdb283d03f544a939d6e85ba206ab82e.png\" alt=\"\"\/><\/figure>\n\n\n\n<p>\u95eb\u4fca\u6770\u66fe\u5728\u7f57\u6c38\u6d69\u7684\u64ad\u5ba2\u4e2d\u900f\u9732\uff0cAI\u5df2\u7ecf\u6df1\u5165\u5230MiniMax\u65e5\u5e38\u5de5\u4f5c\u7684\u5e95\u5c42\u65b9\u5f0f\uff0c\u5176<strong>\u8d85\u8fc780%\u7684\u4ee3\u7801<\/strong>\u662f\u7531AI\u5b8c\u6210\u7684\uff0c\u516c\u53f8\u5185\u90e8\u8fd8\u6709\u201cAI\u5b9e\u4e60\u751f\u201d\uff1a<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow 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