MiniMax CEO Bets Salary on AGI as Company Secures $2 Billion Amidst Stock Plunge

Chinese AI titan MiniMax is making headlines with a high-stakes gamble: CEO Yan Junjie has pledged to skip his salary until the company achieves Artificial General Intelligence, or AGI. This ambitious vow arrives just as MiniMax secured a crucial $2 billion (HK$16 billion) funding injection and committed personal shares to its employees and open-source initiatives. The audacious move comes at a challenging time, with MiniMax stock price plummeting by approximately 80% since March, amidst fierce competition in China's booming AI market. The newly raised capital, secured through a combination of share placement and zero-coupon convertible bonds, is earmarked primarily to bolster its AI infrastructure and supercharge research and development efforts for advanced models like its upcoming M3 Pro. This financial push is critical as rivals such as Zhipu AI, DeepSeek AI, and Moonshot AI intensify the race, putting pressure on MiniMax flagship M3 Model which struggled to capture developer attention upon its June release. Looking ahead, all eyes will be on MiniMax progress towards AGI and the performance of its M3 Pro Model, slated for open-sourcing in the third quarter of 2026. The company is also accelerating global commercialization for its AI agent products, signaling a strategic shift to reaffirm its standing in a hyper-competitive global AI landscape. Yan Junjie dramatic personal commitment aims to galvanize his team and the broader AI community, but the true test lies in whether these substantial investments translate into a tangible lead in the intelligence race.