Key facts
- MiniMax launched its M3.1 Flash text model.
- The new model reduces overall usage costs by 70%.
Hong Kong-listed artificial intelligence developer MiniMax has launched a new text model, M3.1 Flash, with lower API prices. The company states the new model reduces overall usage costs by 70%. This release marks MiniMax's first text-model offering in four months and intensifies price competition within China's AI market, as startups and technology giants roll out cheaper models amid rising computing costs and weakening share prices.
