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$MINIMAX-WP(00100)$ 高盛的电话会纪要里提到：MiniMax的ARR增长曲线比预期陡峭，主要得益于M2.5的性价比优势和OpenClaw的生态拉动。外资机构对AI的估值逻辑很清晰——看增长，看生态，看未来的确定性

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