[Insiders: Alibaba and Abu Dhabi plan to invest in AI company MiniMax to support its IPO] According to insiders, AI startup MiniMax has secured Alibaba Group and Abu Dhabi Investment Authority as key backers for its upcoming IPO in Hong Kong. Insiders revealed that MiniMax is seeking to raise over $600 million through the IPO. Some sources stated that the company could start accepting investor subscriptions as early as Wednesday, with plans to go public in January next year. Insiders also mentioned that, in addition to Abu Dhabi Investment Authority and Alibaba, IDG Capital, Perseverance Asset Management, and South Korea's Mirae Asset will also be cornerstone investors in this deal. However, they added that negotiations are still ongoing, and the size and timing of the deal may still change.