Chinese AI startup MiniMax has launched H3, an open-source multimodal model, amidst competition from Moonshot's Kimi K3 and DeepSeek. The company reported significant R&D spending against its revenue for the upcoming year. AI
IMPACT This release introduces a new open-source multimodal model, potentially impacting the competitive landscape for AI startups in China.
RANK_REASON Frontier-lab model release with system card. [lever_c_demoted from frontier_release: ic=1 ai=1.0]
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