MiniMax expands Alibaba cloud pact as compute needs surge for training and inference

SCMP TechAugust 28, 2026en

Chinese artificial intelligence firm MiniMax has raised the three-year purchase ceiling on its cloud computing deals with Alibaba Group Holding by 220 per cent to US$1.2 billion, underscoring surging demand for computing power among the country’s top AI developers. The Shanghai-based company planned to spend up to US$300 million on Alibaba Cloud services this year, nearly triple its original US$115 million cap, after burning through two-thirds of its budget by the end of June, according to its...

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