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- Alibaba invests $600 million on an AI companion + character startup
Alibaba invests $600 million on an AI companion + character startup
Gabriel Menor
March 12, 2024
💸 Who’s Minimax?
MiniMax is a startup company in Shanghai that is creating new ways for people to interact with computers using AI.
Minimax focuses on creating AI companions and virtual characters that users can interact with. Imagine having conversations with your favorite video game character or interacting with a cartoon come to life!
Imagine having conversations with your favorite video game character or interacting with a cartoon come to life. Minimax brings these to life
They offer Talkie for international audiences and Xing Ye for the Chinese market.
🤖 Alibaba wants more AI
This investment, exceeding $600 million, propels MiniMax's valuation to over $2.5 billion. It marks Alibaba's second major AI investment this year, all part of its shift towards AI, cloud computing, logistics and entertainment.
However, the path for Chinese AI companies isn't without hurdles.
One major challenge is the restricted access from the U.S. for advanced computer chips which limits the ability of Chinese firms to push the boundaries of its AI tech.
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