MiniMax Cuts API Prices With New Flash AI Model

Hong Kong-listed artificial intelligence developer MiniMax has launched a new text model with lower API prices that it says reduces overall usage costs by 70%, expanding its lower-cost offerings with its first text-model release in four months.

The MiniMax M3.1 Flash adds to intensifying price competition among Chinese AI startups and technology giants, which are rolling out cheaper “Flash” models to attract users as computing costs rise and share prices weaken.