MiniMax raises Alibaba Cloud spending ceiling to $1.2 billion

MiniMax has raised the spending ceiling of its three-year agreement with Alibaba Cloud by 220% to $1.2 billion, according to a filing cited in a report published on Aug. 28. The annual limits were raised to $300 million for 2026, $400 million for 2027 and $500 million for 2028, from $115 million, $125 million and […]