MINIMAX-W (00100) jumped more than 5% in early trading before paring gains, last up 3.80% at HK$343.80 with turnover reaching HK$2.058 billion. The rally comes after Saudi Arabia's artificial intelligence firm Humain launched its first Arabic large language model, HUMAIN M3, earlier this month, built on the open-source flagship model from Chinese AI developer MiniMax.

Humain, which recently initiated preparations for its IPO, developed HUMAIN M3 by using over one trillion Arabic tokens for post-training on top of the MiniMax M3 base model. The new model is currently available for research preview through the HUMAIN Node platform.

Analysts view this collaboration as a key milestone in MiniMax's global expansion strategy. In its semi-annual report released in August, MiniMax disclosed that its products and services now reach more than 230 countries and territories, with international markets contributing the majority of its revenue. As of the end of the first half of the year, overseas markets accounted for approximately 60.8% of total revenue.