MiniMax raises ~$2B and ships multimodal M3 model with FiftyOne plugin

MiniMax announced a private placement and convertible bond raise of roughly HK$16 billion (~$2B) for model R&D and infrastructure. Its MiniMax-M3 model, with ~428B total parameters (~23B activated, MoE) and a 1M-token context, is now available through a FiftyOne plugin for detection, keypoints, captioning and VQA.

• MiniMax's placement and convertible bonds total roughly HK$16 billion (~$2B)
• M3 has ~428B total parameters, ~23B activated per token and a 1M-token context
• Model card reports 9x prefill and 15x decode speedups over M2 at 1M context
• The minimax-m3-fiftyone plugin covers nine tasks, including detection, keypoints and VQA