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Each item is one event, written from several sources, with a footnote for every fact.

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Release

MiniMax releases MiniMax-M3.1-Flash

MiniMax posted the weights of M3.1-Flash to Hugging Face on 17 October 2026. The model is a multimodal M3-line release with about 428 billion parameters, MiniMax Sparse Attention throughout, and DSpark speculative decoding.

Release

iFlytek releases Spark X2.5

On 7 September 2026 iFlytek released Spark X2.5, a 293B-A30B mixture-of-experts model trained and served on domestic compute, focused on code and agent tasks, with open-source on-device models supporting up to 1 million tokens of context.

Release

OpenBMB publishes MiniCPM5-2B

On 6 September 2026 OpenBMB released MiniCPM5-2B, a dense 2-billion-parameter open model that the team describes as state of the art for its size class, released together with the UltraX training dataset.

Release

StepFun releases Step 5 Preview

In September 2026 StepFun released Step 5 Preview as its new flagship foundation model. It is a sparse MoE with 600 billion total parameters, supports up to 1 million tokens of context, and is offered through the StepFun Open Platform API.

Funding

Stability AI raises a $76 million Series B

On 25 August 2026 Stability AI announced a $76 million Series B whose investors include Sony Music, Universal Music, Warner Music, Electronic Arts and AMD Ventures, taking the funding raised under CEO Prem Akkaraju to about $232 million.