MiniMax closed at HK$160.7 on October 22, below its IPO price, despite first-half revenue of $116.6 million. The stock is down from a March peak of HK$1,330 that valued the company above HK$400 billion.
At its 1024 Developer Festival, iFlytek launched SparkAudio 1.0, a speech foundation model that merges translation, recognition and semantic understanding into one system. The company also released Spark X2.6, trained entirely on domestic chips, as Chinese AI firms push integrated voice and agent capabilities.
A new arXiv paper offers an information-theoretic explanation for why large language models hallucinate instead of admitting uncertainty. A Chinese Q&A thread broke down the research for curious readers.
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