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

Chinese AI firm burns through two-thirds of its cloud budget by June, forcing a dramatic increase in its Alibaba deal ceiling.

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