{"id":789837,"date":"2026-05-30T11:16:31","date_gmt":"2026-05-30T03:16:31","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=789837"},"modified":"2026-05-30T11:16:31","modified_gmt":"2026-05-30T03:16:31","slug":"%e4%b8%8a%e6%b5%b7%e5%a4%a7%e6%a8%a1%e5%9e%8b%e9%be%99%e5%a4%b4%ef%bc%8c%e5%90%af%e5%8a%a8a%e8%82%a1%e4%b8%8a%e5%b8%82","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=789837","title":{"rendered":"\u4e0a\u6d77\u5927\u6a21\u578b\u9f99\u5934\uff0c\u542f\u52a8A\u80a1\u4e0a\u5e02"},"content":{"rendered":"

\"\u4e0a\u6d77\u5927\u6a21\u578b\u9f99\u5934\uff0c\u542f\u52a8A\u80a1\u4e0a\u5e02\"<\/p>\n

\u4f5c\u8005 | \u9648\u9a8f\u8fbe<\/p>\n

\u7f16\u8f91 | \u674e\u6c34\u9752<\/strong><\/p>\n

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\u8fd9\u4e5f\u610f\u5473\u7740\uff0cMiniMax\u5c06\u4e0e\u5df2\u7ecf\u63d0\u4ea4A\u80a1\u4e0a\u5e02\u8f85\u5bfc\u5907\u6848\u7684\u667a\u8c31\uff0c\u4e00\u540c\u51b2\u523aA\u80a1\u5927\u6a21\u578b\u7b2c\u4e00\u80a1\u3002<\/p>\n

\"\u4e0a\u6d77\u5927\u6a21\u578b\u9f99\u5934\uff0c\u542f\u52a8A\u80a1\u4e0a\u5e02\"<\/p>\n

MiniMax\u6210\u7acb\u4e8e2022\u5e741\u6708\uff0c\u5e76\u5728\u4eca\u5e741\u6708\u5b8c\u6210\u6e2f\u80a1IPO<\/a>\u3002\u6e2f\u80a1IPO\u4e4b\u540e\uff0cMiniMax\u80a1\u4ef7\u4e00\u8def\u72c2\u98d9\u3002\u622a\u81f35\u670829\u65e5\u6e2f\u80a1\u6536\u76d8\uff0c\u5176\u80a1\u4ef7\u4e3a840\u6e2f\u5143\uff08\u7ea6\u5408\u4eba\u6c11\u5e01<\/a>725.24\u5143\uff09\uff0c\u76f8\u6bd4\u53d1\u884c\u4ef7165\u6e2f\u5143\uff08\u7ea6\u5408\u4eba\u6c11\u5e01142.46\u5143\uff09\u4e0a\u6da8\u4e86409.09%<\/strong>\uff0c\u5e02\u503c\u8fbe2634.54\u4ebf\u6e2f\u5143\uff08\u7ea6\u5408\u4eba\u6c11\u5e012275.45\u4ebf\u5143\uff09<\/strong>\u3002\u81ea\u4eca\u5e746\u67088\u65e5\u8d77\uff0cMiniMax\u8fd8\u5c06\u88ab\u7eb3\u5165\u6052\u751f\u79d1\u6280\u6307\u6570\u3002<\/p>\n

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5\u670828\u65e5\uff0cMiniMax\u62ab\u9732\u4e86\u90e8\u5206\u4e1a\u52a1\u6570\u636e\u3002\u8fc7\u53bb\u4e24\u4e2a\u6708\uff0cMiniMax\u7684ARR\uff08\u5e74\u5316\u7ecf\u5e38\u6027\u6536\u5165\uff09<\/strong>\u5b9e\u73b0\u8d85\u8fc7100%\u7684\u589e\u957f<\/strong>\uff0c\u670d\u52a1\u7684\u5168\u7403\u4f01\u4e1a\u548c\u5f00\u53d1\u8005\u5ba2\u6237\u6570\u5df2\u8d85\u767e\u4e07\uff0c\u8f83\u534a\u5e74\u524d\u589e\u957f5\u500d\uff1b\u5168\u7403\u7528\u6237\u89c4\u6a21\u7ea63\u4ebf\u3002<\/p>\n

\u4eca\u5e743\u6708\uff0cMiniMax\u53d1\u5e03\u4e86\u4e0a\u5e02\u540e\u7684\u9996\u4efd\u5e74\u62a5\u3002\u5728\u8d22\u62a5\u7535\u8bdd\u4f1a\u4e0a\uff0c\u521b\u59cb\u4eba\u517cCEO\u95eb\u4fca\u6770\u900f\u9732\uff0c\u622a\u81f32026\u5e742\u6708\uff0c\u516c\u53f8\u7684ARR\u5df2\u8fbe1.5\u4ebf\u7f8e\u5143\u3002<\/p>\n

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2025\u5e74\u5168\u5e74\uff0cMiniMax\u5b9e\u73b0\u4e867903.8\u4e07\u7f8e\u5143\uff08\u7ea6\u5408\u4eba\u6c11\u5e015.35\u4ebf\u5143\uff09<\/strong>\u7684\u8425\u6536\uff0c\u5176\u4e2dAI\u539f\u751f\u4ea7\u54c1\u8425\u6536\u4e3a5307.5\u4e07\u7f8e\u5143\uff08\u7ea6\u5408\u4eba\u6c11\u5e013.59\u4ebf\u5143\uff09<\/strong>\uff0c\u5f00\u653e\u5e73\u53f0\u53ca\u5176\u4ed6\u57fa\u4e8eAI\u7684\u4f01\u4e1a\u670d\u52a1\u8425\u6536\u4e3a2596.3\u4e07\u7f8e\u5143\uff08\u7ea6\u5408\u4eba\u6c11\u5e011.77\u4ebf\u5143\uff09<\/strong>\u3002<\/p>\n

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MiniMax 2025\u5e74\u90e8\u5206\u8d22\u52a1\u6570\u636e<\/p>\n

\u4ea7\u54c1\u65b9\u9762\uff0c\u4eca\u5e74\u4ee5\u6765\uff0cMiniMax\u5df2\u7ecf\u9646\u7eed\u63a8\u51fa\u4e86MiniMax-M2.5\u3001MiniMax-M2.6\u548cMiniMax-M2.7<\/strong>\u7b49\u4e09\u6b3e\u65d7\u8230\u5927\u8bed\u8a00\u6a21\u578b\uff0c\u5e76\u5f00\u6e90\u4e86M2.5\u4e0eM2.7\u4e24\u6b3e\u6a21\u578b\u3002<\/p>\n

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MiniMax\u5f00\u6e90\u7684\u90e8\u5206\u6a21\u578b\uff08\u56fe\u6e90\uff1a\u9b54\u642d\uff09<\/p>\n

\u51ed\u501f\u8f83\u9ad8\u7684\u6027\u4ef7\u6bd4\uff0cMiniMax-M2.5\u5728\u4eca\u5e74\u5e74\u521d\u7684\u201c\u9f99\u867e\u70ed\u201d\uff08\u5f00\u6e90AI Agent\u6846\u67b6OpenClaw\uff09\u4e2d\u83b7\u5f97\u4e0d\u5c11\u5f00\u53d1\u8005\u7684\u559c\u7231\uff0c\u8fd8\u88ab\u201c\u9f99\u867e\u4e4b\u7236\u201dPeter Steinberger\u53d1\u6587\u63a8\u8350\u3002<\/p>\n

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\u6b64\u5916\uff0c\u4eca\u5e745\u6708\uff0cMiniMax\u5347\u7ea7\u4e86\u5176Agent\u4ea7\u54c1\uff0c\u5e76\u66f4\u540d\u4e3aMavis<\/strong>\uff0c\u63d0\u4f9b\u591aAgent\u5e76\u884c\u5de5\u4f5c\u7684\u6a21\u5f0f\uff0c\u53ef\u7528\u4e8e\u63d0\u9ad8\u590d\u6742\u957f\u4efb\u52a1\u7684\u5b8c\u6210\u7387\u3002<\/p>\n

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MiniMax\u5b98\u65b9\u8d26\u53f7\u9884\u544aM3\u6a21\u578b\uff08\u56fe\u6e90\uff1aX\u5e73\u53f0@MiniMax_AI\uff09<\/p>\n

MiniMax\u5de5\u7a0b\u8d1f\u8d23\u4ebaSkyler Miao\u5267\u900f\u4e86MiniMax-M3\u7684\u66f4\u591a\u6280\u672f\u7ec6\u8282\u3002MiniMax-M3\u91c7\u7528\u4e86MiniMax Sparse Attention\u673a\u5236\uff0c\u4e0eMiniMax M2\u76f8\u6bd4\uff0c\u5728Prefilling\uff08\u9884\u586b\u5145\uff09\u9636\u6bb5<\/strong>\uff0cMiniMax-M3\u5904\u7406100\u4e07token\u65f6\u63a8\u7406\u901f\u5ea6\u63d0\u5347\u81f39.7\u500d<\/strong>\uff1b\u5728Decoding\uff08\u89e3\u7801\uff09\u9636\u6bb5<\/strong>\uff0cKV\u957f\u5ea6\u8fbe\u5230100\u4e07\u65f6\u901f\u5ea6\u66f4\u662f\u63d0\u5347\u81f315.6\u500d<\/strong>\uff0c\u4e14\u6709\u6548\u964d\u4f4e\u4e86\u6ce8\u610f\u529b\u5ef6\u8fdf\u3002<\/p>\n

MiniMax Sparse Attention\u673a\u5236\u57fa\u4e8eGQA\uff08\u5206\u7ec4\u67e5\u8be2\u6ce8\u610f\u529b\uff09\u67b6\u6784\uff0c\u9996\u5148\u901a\u8fc7\u7d22\u5f15\u5206\u652f\uff08Index Branch\uff09\uff0c\u5229\u7528\u538b\u7f29\u540e\u7684\u7d22\u5f15\u67e5\u8be2\uff08Idx Q\uff09\u548c\u952e\uff08Idx KV\uff09\u8ba1\u7b97\u5757\u5206\u6570\u5e76\u8fdb\u884c\u6700\u5927\u6c60\u5316\uff0c\u7b5b\u9009\u51fa\u4e0e\u5f53\u524d\u67e5\u8be2\u6700\u76f8\u5173\u7684Top-k \u5757\u7d22\u5f15\uff1b\u968f\u540e\u8fdb\u5165\u7a00\u758f\u5206\u652f\uff08Sparse Branch\uff09\uff0c\u4ec5\u5728\u9009\u5b9a\u7684\u8fd9\u4e9b\u5173\u952e\u5757\u4e0a\u6267\u884c\u7a00\u758f\u6ce8\u610f\u529b\u8ba1\u7b97\uff0c\u4ece\u800c\u5927\u5e45\u51cf\u5c11\u8ba1\u7b97\u91cf\u3002<\/p>\n<\/p>\n

MiniMax Sparse Attention\u6280\u672f\u7ec6\u8282\uff08\u56fe\u6e90\uff1aX\u5e73\u53f0@SkylerMiao7\uff09<\/p>\n

\u7ed3\u8bed\uff1a\u56fd\u5185\u5927\u6a21\u578b\u5934\u90e8\u73a9\u5bb6\u62a2\u6ee9\u4e0a\u5e02<\/strong><\/p>\n

\u8fdb\u51652026\u5e74\uff0c\u56fd\u5185\u5927\u6a21\u578b\u5934\u90e8\u4f01\u4e1a\u5728\u8d44\u672c\u5e02\u573a\u7684\u52a8\u4f5c\u4e0d\u65ad\u52a0\u901f\u3002\u9664MiniMax\u4e4b\u5916\uff0c\u667a\u8c31\u66fe\u4e8e2025\u5e744\u6708\u63d0\u4ea4A\u80a1\u4e0a\u5e02\u8f85\u5bfc\u5907\u6848\uff0c\u4f46\u6700\u540e\u5728\u6e2f\u80a1\u5148\u884c\u5b8c\u6210IPO\u3002\u4eca\u5e742\u6708\uff0c\u667a\u8c31\u64a4\u56de\u4e86\u6b64\u524d\u7684A\u80a1\u4e0a\u5e02\u8f85\u5bfc\u5907\u6848\uff0c\u5e76\u529e\u7406\u65b0\u7684\u8f85\u5bfc\u5907\u6848\u767b\u8bb0\uff0c\u65b0\u589e\u56fd\u6cf0\u6d77\u901a\u4f5c\u4e3a\u8f85\u5bfc\u673a\u6784\u3002<\/p>\n

\u6b64\u5916\uff0c\u6708\u4e4b\u6697\u9762\u3001\u9636\u8dc3\u661f\u8fb0\u3001\u96f6\u4e00\u4e07\u7269\u4e5f\u66fe\u4f20\u51fa\u8ba1\u5212\u8d74\u6e2fIPO\u7684\u6d88\u606f\u3002<\/p>\n

\u9762\u5bf9\u9ad8\u6602\u7684\u7b97\u529b\u6295\u5165\u4e0e\u5c1a\u672a\u5b8c\u5168\u95ed\u73af\u7684\u5546\u4e1a\u5316\u8def\u5f84\uff0c\u5927\u6a21\u578b\u5934\u90e8\u73a9\u5bb6\u4eec\u6b63\u901a\u8fc7\u4e0a\u5e02\u6253\u5f00\u66f4\u4e3a\u4e30\u5bcc\u7684\u878d\u8d44<\/a>\u6e20\u9053\u3002<\/p>\n

(\u6765\u6e90\uff1a\u65b0\u6d6a\u79d1\u6280)<\/p>\n","protected":false},"excerpt":{"rendered":"

\u4f5c\u8005 | \u9648\u9a8f\u8fbe \u7f16\u8f91 | \u674e\u6c34\u9752 \u667a\u4e1c\u897f5\u670830\u65e5\u62a5\u9053\uff0c\u8bc1\u76d1\u4f1a\u5b98\u7f51\u663e\u793a\uff0c\u4e0a\u6d77AI\u5927\u6a21\u578b\u9f99\u5934\u4f01\u4e1aMiniMax […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[57,195,266,102,331,14,265,144,48],"views":3,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/789837"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=789837"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/789837\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=789837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=789837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=789837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}