Alibaba and miHoYo have pledged not to sell any of their shares in Chinese AI startup MiniMax ahead of its first major share unlock scheduled for July 9. This commitment comes despite significant gains in the company’s stock following its Hong Kong listing earlier in 2026, signaling strong long-term confidence from two of China’s most influential technology and gaming players in the future of domestic artificial intelligence development.
MiniMax, known for its advanced foundation models and widespread applications, has experienced rapid growth, serving hundreds of millions of users and expanding its enterprise footprint. The decision by major strategic investors Alibaba and miHoYo to hold their stakes reduces potential sell pressure during the unlock period and reinforces market stability. It also highlights their belief in MiniMax’s prospects, including deeper collaboration in cloud computing, enterprise services, and emerging areas like AI + crypto integrations.
This move stands out in a market often characterized by quick profit-taking after sharp rallies. By refusing to cash out, Alibaba and miHoYo are demonstrating conviction in China’s AI ecosystem amid intense global competition. Their stance is expected to boost investor sentiment, support MiniMax’s valuation, and encourage further institutional participation as the company prepares for additional growth initiatives, including a potential A-share listing in the future.
The development underscores the strategic importance of homegrown AI champions in China’s technology ambitions. As MiniMax continues to advance its models and expand use cases, backing from heavyweights like Alibaba and miHoYo provides not only capital stability but also ecosystem synergies that could accelerate innovation and commercialization.
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