MINIMAX-W surges 11% as H3 model open-source draws over 100 partners

MINIMAX-W (100.HK) surged more than 11% in Hong Kong trading to HK$255.6. The company's open-source multimodal model H3 attracted over 100 domestic and international partners for Day 0 adaptation within 24 hours of its release, spanning chip makers, developer communities, cloud inference platforms, and AI application companies.

Separately, Goldman Sachs initiated coverage on MINIMAX-W with a Buy rating and a target price of HK$800, saying the H3 model's cost advantage will help accelerate the company's commercialization.