MiniMax’s CEO, Yan Junjie, tells the company’s employees he will not take a salary until artificial general intelligence (AGI) is achieved, according to reporting from The Next Web and Times of India. Both outlets describe the commitment as part of a broader plan involving the CEO’s ownership stake, including transferring personal shares to support employee rewards and open-source AI development.
On the same day as the internal pledge, MiniMax pursues external funding. Times of India says the company is seeking to raise about $2.05 billion through a Hong Kong share placement, while The Next Web reports the fundraising effort is aimed at raising as much as $2 billion. The stated purpose of the capital raise is to expand AI infrastructure and accelerate research and development. Both accounts place the effort in the context of intense competition within China’s AI market, where major companies are investing heavily to advance their models and capabilities.
The sources agree on the CEO’s no-salary pledge until AGI and the concurrent large equity fundraising plan, but they do not provide additional independent verification of AGI timelines.
