Abstract: We noted Space Bunny Alpha, a stealth model which is likely MiniMax's M3.1-Flash, and compared its available benchmarking with Chinese and US models. We analysed the sequence of model launches and placements at MiniMax and its competitor Zhipu, and the release cadence of Chinese labs. We think the M3.1 launch is imminent and could be followed by a placement, and we review how the stock traded in past launches for MiniMax and its comparable.
MINIMAX, KNOWLEDGE ATLAS
Fundamental research on individual Asia Pacific companies, including initiations, company meeting takeaways and event-driven notes on catalysts such as primary listing conversions and index inclusion.
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