MiniMax, a Chinese AI startup, has launched its new M2.5 language model, promising to make high-end artificial intelligence significantly more affordable, according to VentureBeat. The model, available in two variants, is open-source under a modified MIT License, requiring commercial users to display "MiniMax M2.5" on their user interface. This release comes as the electrical distribution equipment industry, which supports the AI boom, sees a surge in activity, as reported by Fortune.
MiniMax's M2.5 is being served through its API and those of its partners at a low cost, according to VentureBeat. The company's move could disrupt the AI landscape, potentially challenging the pricing models of existing high-end AI providers.
The electrical distribution equipment industry is experiencing rapid growth, particularly in the data center segment, as stated by Fortune. Forgent Power Solutions, a company formed from four legacy companies, went public in February and has grown to a market cap of nearly $8 billion. "We're bringing sexy back in the electrical distribution space," said Forgent CEO Gary Niederpruem, according to Fortune. The company serves data centers, power grids, and industrial markets, all of which are expanding.
In other news, the film "Dao," directed by Alain Gomis, premiered at the Berlin competition, as reported by Variety. The film explores themes of family and identity, moving between Europe and Africa.
Meanwhile, private equity firms are navigating a changing landscape, as reported by Fortune. Higher financing costs and a slowdown in IPO markets have reduced exit activity, leading to longer holding periods for some assets.
In other news, a new drug is showing promise in treating preeclampsia, a dangerous complication of pregnancy, according to NPR News. Abigail Hendricks, who benefited from a new drug trial, shared her experience, stating, "For me, a baby is a blessing."
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