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AI Daily | October 20, 2026 Evening Edition: Physical AI Conference Signs Over 6 Billion Yuan, MiniMax Releases M3.1 Flash

Published: 2026-10-20  |  Category: AI Daily  |  Read: about 6 min

Top Stories This Evening

  • The 2026 Physical AI and World Models Conference is held in Nanjing, with over 6 billion yuan signed on site and the Jiangsu-Anhui Data Alliance established
  • MiniMax releases M3.1 Flash: just 1 yuan for a million input tokens, setting a new industry low
  • Kimi core member Chen Guangyu reportedly joins US AI startup Discovery Loop
  • MIIT: will deepen the "AI Plus Software" initiative and tackle key technologies
  • Ministry of Commerce expresses strong dissatisfaction over the US ban on procurement of Chinese AI companies' products

1. Physical AI and World Models Conference Held in Nanjing, Over 6 Billion Yuan Signed

ConferencePhysical AIIndustry

On October 20, the "Modeling the Physical World · Empowering a Better Future" 2026 Physical AI and World Models Conference, co-hosted by the Jiangsu Provincial Data Group, Nanjing Big Data Group and the Chinese Association for Artificial Intelligence, was held at the Nanjing International Expo Center. Dai Qionghai, academician of the Chinese Academy of Engineering and chairman of the Chinese Association for Artificial Intelligence, attended and delivered remarks.

The conference focused on core physical AI scenarios such as autonomous driving, robotics and smart manufacturing, and explored how world models can help AI better "understand" the real world. Tangyuan Technology presented a virtual training-ground solution based on world models, while Alibaba launched a new generation of AI glasses at the event.

Industry results: On-site agreements at the conference exceeded 6 billion yuan, and the Jiangsu-Anhui Data Alliance and the Physical AI Industry Alliance were established, marking an important step for the Yangtze River Delta region in its physical AI industrial layout. A day earlier (October 19), the conference's parallel forum — the Healthcare World Models session — was held first.

2. MiniMax Releases M3.1 Flash: Just 1 Yuan per Million Tokens

ProductLarge Models

MiniMax officially released its new-generation Flash model M3.1 Flash, supporting a 1 million token context window, with an input price of just $0.14 per million tokens (about 1 yuan per million tokens), setting a new industry-low price record.

This price is another 40% lower than MiniMax's previous own products, further intensifying price competition among domestic large-model vendors. Analysts note that Flash-series models are becoming the first choice for developers' daily calls, and the extremely low price threshold will accelerate AI adoption across industries.

Editor's note: The large-model price war has entered the "penny era." MiniMax M3.1 Flash's pricing strategy, together with DeepSeek V4.1 Flash's earlier $0.25 per million tokens, means AI call costs are approaching zero. This is a huge boon for small and medium-sized developers, but it also raises concerns about model vendors' profitability.

3. Kimi Core Member Chen Guangyu Joins US AI Startup Discovery Loop

TalentMoves

On October 20, it was reported that Chen Guangyu, a core technical member of Kimi under Moonshot AI, has confirmed joining the US AI startup Discovery Loop. The company was founded by former Google executives, and its specific business direction has not yet been publicly disclosed.

Chen Guangyu was previously one of the key figures in Kimi model development. This talent departure has once again drawn industry attention to the outflow of Chinese AI talent. Some analysts, however, believe that two-way AI talent flows between China and the US have become the norm, and the key is whether China can continue to provide a competitive R&D environment.

Industry signal: Following several domestic AI researchers moving overseas this year, the departure of a Kimi core member is another wake-up call. Notably, however, overseas talent is also returning — China Telecom's Xingchen Laboratory recently brought in several multimodal researchers from abroad.

4. MIIT: Deepening the "AI Plus Software" Initiative

PolicyMIIT

On October 20, the State Council Information Office held a press conference on China's industrial and information technology development in the first three quarters of 2026. MIIT made clear that it will deepen the "AI Plus Software" initiative, focusing on key technologies such as industrial software and the integration of AI large models with operating systems.

Data shows that China's software business revenue grew 12.3% year on year in the first three quarters, with AI-related software growing more than 30%. MIIT also said it will accelerate the standardized deployment of AI in vertical industries such as manufacturing, finance and healthcare.

5. Ministry of Commerce Responds to US Ban on Chinese AI Products

TradePolicy

Regarding the US government's requirement that federal civilian agencies stop procuring large models and related services from Chinese AI company DeepSeek, the Ministry of Commerce said on October 20 that it strongly disapproves and firmly opposes the move.

A ministry spokesperson said the US action seriously violates market economy principles and harms the legitimate rights and interests of Chinese companies. China will closely follow developments and take necessary measures to safeguard its interests. The statement further raises trade tensions in the China-US AI field.

6. Other Key Developments

ProductOpen SourceFunding

  • AgiBot launches WorldOracle: a general world model platform for embodied intelligence, supporting large-scale robot training in virtual environments
  • DeepBlue Technology unveils a film and television agent system: bringing AI Agent technology into production workflows and automating everything from script analysis to storyboard generation
  • Anthropic is developing a new large model: according to sources, the new model may achieve a major breakthrough in reasoning capability
  • Xuanjia Technology completes B1/B2 funding: co-invested by Shenye Capital (Shenye CloudWalk AI Fund) and Fachuang Capital, focusing on AR/VR plus AI
  • Neolix completes nearly 400 million yuan in funding: accelerating the commercialization of autonomous driving
  • The International Embodied Intelligence Skills Competition will be held in Shanghai: focusing on real-world applications and advancing standardization of embodied intelligence

7. Today's Data at a Glance

MetricFigureChange
Physical AI conference signed valueOver 6 billion yuan—
MiniMax M3.1 Flash price$0.14 per million input tokensIndustry lowest
Software business revenue growth, first three quarters+12.3% YoYAI-related over 30%
Neolix fundingNearly 400 million yuan—
Registered generative AI services in Guangdong1087 new
Hang Seng Tech IndexClosed down 1.32%AI sector under pressure

Tomorrow's Watch

  • The 2026 Bund Annual Conference enters its second day, with more AI-finance crossover topics to come
  • The 2026 Financial Street Forum Annual Conference Insurance Summit and the Tech Insurance sub-forum continue
  • When MiniMax M3.1 Flash will officially open API access
  • Watch for follow-ups on China-US AI trade friction

— This article is automatically compiled and published daily by AICat —

Sources

  • Sohu News, "Smart-driving cars and robots will better understand the real world — this conference shows you the future of AI", 2026-10-20
  • East Money, "October 20 AI new product news: AgiBot launches WorldOracle, MiniMax releases M3.1 Flash", 2026-10-20
  • International Finance News, "AI large models are getting cheaper, and robot world models are starting to be 'verified'", 2026-10-20
  • Sina Tech, "Sina AI Hotspot Hourly Report, October 20, 2026, 22:00", 2026-10-20
  • Sina Tech, "Sina AI Hotspot Hourly Report, October 20, 2026, 20:00", 2026-10-20
  • Baidu Baijiahao, "October 20, 2026 Tech News Briefs", 2026-10-20
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