Chinese artificial intelligence (AI) start-up MiniMax, which counts Alibaba Group Holding and Tencent Holdings as investors, is moving towards an initial public offering (IPO) in Hong Kong as early as this year, according to media reports. Shanghai-based MiniMax, whose last funding round in March 2024 valued the company at US$2.5 billion, was in the “early stage” of preparations for the listing, according to a Wednesday report by Shanghai-based news outlet The Paper, citing unnamed sources close...