China’s AI Startups Zhipu and MiniMax Take on Global Investors

China’s AI industry is set for a significant test with the back-to-back debuts of Zhipu and MiniMax in Hong Kong, challenging the dominance of OpenAI and Anthropic. Both startups are gearing up for trading days that will dictate investor sentiment towards Chinese AI innovation. While Zhipu caters mainly to institutional clients, MiniMax focuses on consumer AI apps, setting them apart in their market approach. Zhipu, a state-backed entity, boasts a rich history with successful investments from leading Chinese institutions, signaling strong homegrown support. Leading up to their IPOs, Zhipu and MiniMax are demonstrating a lean operational model, echoing China’s focus…