Chinese AI company MiniMax released MiniMax M3.1 Flash on October 19, 2026, featuring 428 billion total parameters, about 23 billion active parameters in a mixture-of-experts architecture, and a 1,000,000-token context window.

From the articleMiniMax M3.1 Flash shows China's AI price race has no floor in sightAlso in MiniMax's new M3.1 Flash beats DeepSeek and Opus 5 on a key business benchmark at lower cost — but with a high hallucination rate, MiniMax Just Launched M3.1 Flash: 428B MoE Agentic Model at $0.15/M Input