Xiaomi Launches MiMo AI Model, Boosts Stocks

Xiaomi has unveiled MiMo, its first open-source large language model (LLM), marking a significant step into the artificial intelligence race among China's tech giants. Developed by Xiaomi's Core AI team, MiMo boasts seven billion parameters and has reportedly outperformed OpenAI's o1-mini and Alibaba's QwQ-32B-Preview in mathematical reasoning and coding benchmarks. The launch follows Xiaomi's investment in computing power, including the purchase of approximately 10,000 GPUs for model training. MiMo's release came almost simultaneously with Alibaba's new flagship AI model, intensifying competition in China's rapidly advancing AI sector. Xiaomi aims to integrate its in-house AI into a range of products, including smartphones, electric vehicles, and smart home devices, while also expressing ambitions toward artificial general intelligence. The announcement was met with a 5% increase in Xiaomi's Hong Kong-listed shares, reflecting strong market confidence in the company's AI strategy.