MiniMax CEO forgoes salary until ‘AGI achieved’ as firm seeks US$2b amid 80% stock plunge

MiniMax’s founder and CEO has pledged to forgo his salary until the company achieves artificial general intelligence (AGI), as the Chinese AI firm launches a US$2 billion capital raising to fund its frontier technology goals after its stock plunged 80 per cent from its peak. In an internal memo sent to employees on Friday and seen by the South China Morning Post, Yan Junjie said MiniMax remained committed to its long-term mission despite “external noise” and market fluctuations. “Effective...