Chinese AI Startup MiniMax Unveils Open-Source Models
20th Jan 2025
Artificial intelligence receives yet another set of open-source models as MiniMax unveils its new series of low-cost open-source AI models. This launch not only increases the competition among Chinese AI firms but also aims larger US-based AI firms a run for their money.
MiniMax Braces Up To Go Head-To-Head With Top AI Firms
Last week, MaxMini took to the launch stage to announce the arrival of their new open-source AI models. The newly unveiled model is the MiniMax-01 large language model (LLM) and it comprises two foundational models.
These foundational models are the MiniMax-Text-01 and the multimodal MiniMax-VL-01. The Text-01 model deals with text-generated queries from users, while the VL-01 model deals with visual queries.
To show off the abilities of these models, MiniMax showed a few benchmark tests of the capabilities of the new models. These benchmark tests posted on Reddit show that the new MiniMax open-source models have similar performance to other top AI models.
Growing Competition In The AI Industry
Over the past few weeks, various Chinese AI firms have unveiled their various AI models, showing off their capabilities to potential users. The abilities of these AI models unveiled by most Chinese AI firms are on par with rivals from various parts of the world.
A major issue faced by most of these firms is access to funding, making them seem insignificant in comparison to other larger firms. In China, AI firms like Doubao (ByteDance-owned) have come to be the top choice for users as a result of massive funding.
On the other hand, startup firms like MiniMax are struggling to gain their ground despite creating impressive AI products. Access to funding from larger firms might help Chinese AI startups like MiniMax to better compete in the AI field.
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