MiniMax founder and CEO Yan Junjie has told employees he will stop taking a salary until the company achieves artificial general intelligence (AGI). In an internal memo publicly shared on X, Yan also pledged to transfer part of his personal shareholding to reward employees and support open-source AI development. The announcement accompanied MiniMax's plans to raise approximately HK$16.04 billion through a Hong Kong share placement and zero-coupon convertible bonds to fund AI infrastructure, research and development, commercialisation and general corporate operations. In the memo, Yan wrote: "From today until the day we achieve AGI, I will no longer draw a salary from the company. Over the next four years, I will allocate shares equivalent to 4% of the company’s total equity—held in my personal name—to incentivize team members... Additionally, I will set aside 1% of the shares to establish a dedicated fund to provide ongoing support for the development of relevant open-source communities." According to the company, the 4% equity allocation will be distributed over the next four years to employees. MiniMax is seeking to raise approximately HK$16.04 billion through the issue of 35.6 million new Class A shares and HK$6.5 billion in zero-coupon convertible bonds maturing in 2027. The share placement is priced at HK$268 per share and is expected to raise about HK$9.54 billion. MiniMax went public in Hong Kong in January,