Business
Chinese Tech Giant MiniMax Challenges OpenAI with Launch of Text-to-Video Tool, Video-01: A New Era in AI Video Generation
The Chinese AI powerhouse, MiniMax, has unveiled a text-to-video creation model, positioning it as a competitor to OpenAI's Sora. The initial version of their tool, named Video-01, mirrors the capabilities of Sora, with plans for future enhancements that will allow users to produce videos from images.
Video-01 allows a user to enter a text description to produce a video that lasts no more than six seconds. The entire procedure, from providing the text cue to creating the video, takes approximately two minutes.
At the event, Yan Junjie, the founder and CEO of MiniMax, announced that video-01 is the company's initial version of their video-creation tool. He highlighted future enhancements to the tool will allow users to create videos using images and provide editing capabilities, as per local news sources.
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