Xiaomi enters the artificial intelligence market with its own MiMo model

Xiaomi has announced the launch of its first open AI model, MiMo, which works on the principle of human logical thinking — similar to DeepSeek’s R1 model. Xiaomi thus joins a wave of Chinese technology companies that are actively developing AI platforms with state support, writes Bloomberg.

Xiaomi said its model outperformed OpenAI o1-mini and Alibaba’s Qwen in tests. However, this data has not yet been independently verified. MiMo’s release comes just a day after Alibaba unveiled a new version of its own AI model, signaling a heightened competition among Chinese companies following DeepSeek’s unexpected success. Xiaomi has also said it wants to work on AGI, an artificial intelligence capable of human-like thinking.

This is Xiaomi's first notable AI product, although the company has previously said it would invest in the sector. The new direction marks Xiaomi's second major move in recent years: it is investing $10 billion in electric vehicles by 2024, and company founder Lei Jun has called it his "last startup."

Xiaomi shares rose more than 5% in Hong Kong following the MiMo presentation. Chinese AI stocks also rose after state media reported on President Xi Jinping's visit to an AI incubator, signaling government support for domestic developers.

At the same time, the company has faced difficulties: according to Bloomberg, Xiaomi had to postpone the launch of its first electric SUV due to a fatal accident. This affected investor confidence, and in March the shares fell by 15%. However, Xiaomi said that the release of the YU7 model is still scheduled for June or July.