Goldman Sachs: Xiaomi releases a brand new open-source model, expected to accelerate ecosystem integration

AASTOCKS
2025.12.18 02:08

Goldman Sachs research report indicates that Xiaomi (01810.HK) has launched its new open-source model MiMo-V2-Flash, a foundational language model designed specifically for inference, programming, and intelligent agent scenarios, with extreme efficiency as its core design principle. MiMo-V2-Flash adopts a mixed expert architecture, with a total parameter count of 309 billion and 15 billion active parameters.

The firm believes that Xiaomi is rapidly developing its artificial intelligence infrastructure and application capabilities, emerging as a top-tier open-source model developer, which will accelerate the intelligent integration of its "people, vehicles, and home ecosystem." The firm continues to expect Xiaomi to deliver more artificial intelligence-related outcomes and expand AI applications into its ever-growing ecosystem.

The group's management expects R&D investment to reach RMB 40 billion by 2026, with a cumulative investment of RMB 200 billion over the next five years, focusing on chipsets, operating systems (OS), and artificial intelligence as key investment areas. The firm currently gives Xiaomi a "Buy" rating, with a target price of HKD 53.5

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