MiniMax’s (0100) founder and CEO, Yan Junjie, said he will no longer receive any salary from the company until the day it achieves artificial general intelligence (AGI), following the share sale and bond issuance announcement on Friday.
The company saw its shares plunge as much as 16.41 percent on Friday after announcing a share sale and a bond issuance to raise HK$16.04 billion for funding its AI business.
Yan said in an internal all-staff letter that over the next four years, he will allocate personal shares equivalent to 4 percent of the company's total share capital to reward team members who stand alongside the company for the long term and jointly create value. He will also set aside 1 percent of his shares to establish a special fund to continuously support the development of relevant open-source communities.
“We will keep going until we get there. Intelligence with Everyone,” Yan said in the letter, as he promised to devote all the time, energy, and capital to the project as a founder. He said those on the front lines of the industry know better than anyone the real speed of technological progress, and they also know better the long-term value the company is building and accumulating.
