According to insiders, the large model company MiniMax has recently basically completed a new round of financing of nearly 300 million US dollars. After this round of financing, the company's valuation exceeded 4 billion US dollars (about 30 billion yuan). The investors in this round of financing include listed companies, cross funds and a large state-owned platform-Shanghai State-owned Assets. According to insiders, this round of financing has been launched half a year ago and has been basically confirmed. Previously, MiniMax had completed a B round of financing of 600 million US dollars funded by Alibaba and a round of A financing of more than 250 million US dollars funded by Tencent Capital. Early investors also included Yunqi Capital, Hillhouse Capital, IDG, Mingshi Capital, Mihayou, etc., but there was no state-owned capital background. According to public information, after the completion of this round of financing, the only large model companies in China with a valuation of 30 billion yuan are MiniMax and Zhipu. In this regard, Sina Technology asked MiniMax for confirmation, but the company had no response as of press time.