MiniMax vs StepFun

MiniMax — Foundation Models · Public · $12.6B mkt cap · 4 of 5 figures sourced  |  StepFun — Foundation Models · Private · $10B valuation · 2 of 2 figures sourced

Relationship

MiniMax Open Platform and StepFun Open Platform do comparable work on text to speech; both also serve buyers who need to build on a hosted model API, create images and video, create synthetic voice and audio and 1 more; similar scale (private).

Assembled from the recorded fields for this pair, not hand-checked. The comparison below is read from each company’s own profile.

5 of 8 capabilitiesShared product type

5 of 8 capabilities — Shares agent orchestration, agentic coding, image generation and 2 more.

Ludbee capability tags · from the product records

Shared product type — Both ship AI agent, application and model API.

Ludbee product records

Aligned comparison

FieldMiniMaxStepFun
Size$12.6B mkt cap$10B valuation different basis
Employees385—
Founded20212023 2 yrs later
StatusPublicPrivate
CategoryFoundation ModelsFoundation Models match
Stack layerAI agent, Application, Model APIAI agent, API service, Application, Developer tool, Model API
HeadquartersShanghai, ChinaShanghai, China match

Capability overlap

Shared · 5

Agent orchestrationAgentic codingImage generationText generationText to speech

Not verified for StepFun · 3

Image editingMusic generationVideo generation

Recorded for MiniMax. StepFun’s product records say nothing either way — a missing record is not a missing capability.

Not verified for MiniMax · 7

Code generationModel inferenceKnowledge retrievalSpeech to textVoice agentSearch answersWorkflow automation

Recorded for StepFun. MiniMax’s product records say nothing either way — a missing record is not a missing capability.

Products, side by side

Algorithmic pairing — assembled from recorded fields, not hand-checked

MiniMax

Application

Hailuo AIApplication

Generates video clips from text prompts and still images.

MiniMax AudioApplication

Text-to-speech and AI music generation platform (voice generator, AI music generator, voice isolator) from MiniMax.

星野 (Xingye)Application

Immersive AI-companion / virtual-character community platform where users create, customize and chat with AI agents; MiniMax's China-market app, released internationally as Talkie.

AI agent

MiniMax AgentAI agent

Runs multi-step agents that build software and documents from a written brief.

MiniMax DesignAI agent

Multimedia creation platform coordinating multiple AI agents around a visual canvas for design work.

Model API

MiniMax Open PlatformModel API

Hosted API for MiniMax's text, video, speech and music models, billed per token.

StepFun

Application

阶跃AI (StepFun AI)Application

StepFun's consumer AI assistant, available on the web and as Windows and macOS desktop clients, offering web search, knowledge-base Q&A, image creation, tool use and speech recognition.

AI agent

StepClawAI agent

A one-click cloud-deployed AI agent offered inside the 阶跃AI assistant that interprets instructions and carries out tasks autonomously.

Model API

StepFun Open PlatformModel API

API access to StepFun's text, vision, speech and image models, with credit packages and enterprise plans.

No counterpart

StepFun sells these in a stack layer with no product recorded for MiniMax yet — nothing on the other side to compare them against.

API service

Step PlanAPI service

A subscription service from the StepFun Open Platform that supplies a monthly Credit pool for calling StepFun's flagship models from third-party coding tools and agent clients such as Claude Code, Cursor, OpenClaw, Cline and Zed.

Developer tool

阶跃星辰 AI Studio (StepFun AI Studio)Developer tool

A browser-based workspace for building, testing and deploying AI applications on StepFun's models, with a playground, a showcase library of example apps and a personal asset library.