MiniMax raises Alibaba Cloud spending ceiling to $1.2 billion
AI company MiniMax has increased the spending ceiling of its three-year agreement with Alibaba Cloud by 220% to $1.2 billion. The deal covers cloud resources for model training and inference as MiniMax expands its business.
AI firm MiniMax has significantly expanded its cloud computing agreement with Alibaba Cloud, raising the spending ceiling to $1.2 billion over three years. This represents a 220% increase in the total value of the contract.
The agreement will cover cloud resources essential for MiniMax's AI model training and inference operations. The revised annual spending limits are set at $300 million for 2026, $400 million for 2027, and $500 million for 2028. This expansion supports MiniMax's growth in its AI model and application business.
Previously, the annual limits were substantially lower, with $115 million allocated for 2026, $125 million for 2027, and $135 million for 2028. This substantial increase reflects MiniMax's projected expansion and demand for computational power.
Alibaba Cloud, a major player in the cloud computing market, benefits from such large-scale contracts. The demand from AI companies like MiniMax for substantial computing resources underscores the growing importance of cloud infrastructure in the development and deployment of advanced AI technologies.