AI & Enterprise
Minimax seeks to raise $2 billion in funding
Shanghai-based AI developer Minimax is seeking to raise $2 billion, with more than half to come from issuing new shares and the rest from convertible bonds. It is also pursuing a $6.5 billion convertible bond offering maturing in 2027, allowing investors to obtain 19.4 million shares at 12.6 percent above Thursday’s close. The company’s shares fell 9.8 percent after the fundraising news.
