[MiniMax: MiniMax M2.5 Offers the Possibility of Economically Unrestricted Construction and Operation of Agents] MiniMax introduced that the original intention of designing the M2 series was to enable the operation of complex Agents without cost constraints. With continuous improvements in capabilities, M2.5 is now close to achieving this goal. M2.5 offers two versions with identical performance but differing in speed and price: a fast version with a speed of approximately 100 TPS, costing only $0.3 per million tokens for input processing and $2.4 per million tokens for output processing. The 50 TPS version has an output cost that is half of this. Based on output pricing, the 50 TPS version is 1/10 to 1/20 the price of models like Opus, Gemini 3 Pro, and GPT5. At an output rate of 100 tokens per second, continuous operation for one hour costs only $1, while at 50 tokens per second, it costs just $0.3. In other words, $10,000 can support four Agents working continuously for a year. M2.5 offers the possibility of economically unrestricted construction and operation of Agents. For the M2 series models, the only remaining challenge is the speed of advancements in model capabilities. (Yicai Global)