Sources: Chinese AI startup MiniMax raised $600M+ led by Alibaba at a $2.5B+ valuation; the round remains in progress and HongShan has committed funds (Jane Zhang/Bloomberg)

Jane Zhang / Bloomberg:
Sources: Chinese AI startup MiniMax raised $600M+ led by Alibaba at a $2.5B+ valuation; the round remains in progress and HongShan has committed funds  —  - Minimax scores funding from investors including HongShan  — Alibaba has spearheaded two major deals so far this year