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

South China Morning Post - Aug 28, 2026

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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DeepSeek nears pre-IPO funding round as 2027 market debut takes shape: sources

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Huawei, HP settle disputes with multi-year Wi-fi patent cross-licensing deal

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Divergent results for Apple suppliers highlight memory price squeeze ahead of new iPhone

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