HomeMiniMax Raises 16B HKD; Founder Yan Junjie Takes Zero Pay Until AGI
MiniMax has officially completed a new funding round totaling 1.6 billion Hong Kong dollars. The company intends to direct 80% of the net proceeds toward AI infrastructure and model research and development, strengthening its technological core. Coinciding with this announcement, MiniMax founder and CEO Yan Junjie issued an internal memo addressing recent market shifts and outlining key personal commitments.
Founder waives salary and allocates 5% equity to incentivize staff and open-source contributors
Yan Junjie revealed in the memo that he will forgo all salary from the company starting immediately until the achievement of AGI. Furthermore, over the next four years, he will distribute 4% of his personal stake (representing a portion of total company equity) to reward long-tenured team members who have delivered value, while reserving an additional 1% in a dedicated fund to sustain support for relevant open-source communities.
Yan noted that industry leaders are uniquely positioned to gauge the true pace of technological progress and recognize the company’s long-term value accumulation. He pledged to devote his full time, energy, and resources to MiniMax’s growth, describing this move as a “founder’s long-term commitment.”
Industry analysts: Strengthened capital reserves accelerate commercialization efforts
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MiniMax has officially completed a new funding round totaling 1.6 billion Hong Kong dollars. The company intends to direct 80% of the net proceeds toward AI infrastructure and model research and development, strengthening its technological core. Coinciding with this announcement, MiniMax founder and CEO Yan Junjie issued an internal memo addressing recent market shifts and outlining key personal commitments.
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Yan Junjie revealed in the memo that he will forgo all salary from the company starting immediately until the achievement of AGI. Furthermore, over the next four years, he will distribute 4% of his personal stake (representing a portion of total company equity) to reward long-tenured team members who have delivered value, while reserving an additional 1% in a dedicated fund to sustain support for relevant open-source communities.
Yan noted that industry leaders are uniquely positioned to gauge the true pace of technological progress and recognize the company’s long-term value accumulation. He pledged to devote his full time, energy, and resources to MiniMax’s growth, describing this move as a “founder’s long-term commitment.”
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