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China’s MiniMax Challenges OpenAI with Launch of Text-to-Video Generating Model ‘Video-01’, Plans Future Image-Based Updates
Chinese AI powerhouse, MiniMax, has rolled out a text-to-video generation model, seen as a competitor to OpenAI's Sora. The first version of this tool, dubbed Video-01, mirrors the functionality of Sora. Future enhancements are anticipated to allow users to create videos from pictures.
Video-01 allows a user to feed in a text description for generating a video that can be as long as six seconds. The whole procedure, from providing the text cue to the actual creation of the video, takes roughly two minutes.
Yan Junjie, the founder and CEO of MiniMax, announced at the event that video-01 is the company's initial version of their video-creation tool. He highlighted future enhancements that will allow users to produce videos from pictures and edit them, as per local news coverage.
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