MiniMax hits 2-month low after report US flags AI theft by Chinese firms

MiniMax

27/04/2026 04:00

** Chinese AI startup MiniMax Group 0100.HK slips 14.3% to HK$666, lowest since February 27

** Stock set for biggest one-day pct drop since February 25

** U.S. State Department orders global push to bring focus to what it says are widespread efforts by Chinese firms, including DeepSeek, to steal intellectual property from U.S. AI labs, per diplomatic cable seen by Reuters

** Also mentions Chinese AI firms Moonshot AI and MiniMax; neither company immediately responded to request for comment

** Since debut on January 9, MiniMax stock surged 312.7% from offer price of HK$165

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))