Founded in 2010 and listed on the Hong Kong Stock Exchange since July 2018, Xiaomi employs over 56,000 people across smartphones, IoT and its growing EV business. Its MiMo AI team is worth watching for teams weighing open-weights alternatives to closed frontier labs like OpenAI or Anthropic.
Xiaomi Corporation is a Beijing-based technology company founded in April 2010 by Lei Jun, known for smartphones, IoT devices and electric vehicles. Its MiMo research team, led by Fuli Luo, builds open-weights frontier AI models distributed under the MIT license on Hugging Face and GitHub, including the 2026 MiMo-V2.6 series.
Founded: 2010 · HQ: Beijing, China · Team: 50,000-60,000 · CEO: Lei Jun · Funding: Public company (HKEX: 1810), not VC-funded; IPO on the Hong Kong Stock Exchange on July 9, 2018 · Valuation: ~$735B market capitalization (HKEX:1810, Sept 6, 2026)
About Xiaomi Corporation
Xiaomi Corporation was founded on April 6, 2010, in Beijing by Lei Jun with co-founders Lin Bin, Li Wanqiang, Zhou Guangping, Liu De, Hong Feng and other early engineers. Lei Jun, who had previously run Kingsoft and founded Joyo.com, built Xiaomi around a hybrid thesis: sell hardware near cost and make margin on software and internet services layered on top. Xiaomi incorporated in the Cayman Islands, operates out of Beijing, and listed on the Hong Kong Stock Exchange on July 9, 2018, under ticker 1810.HK.
Xiaomi's core business is smartphones, holding a top-three global market share near 13.3% for 22 consecutive quarters on its MIUI/HyperOS software. Its IoT division sells products from robot vacuums to air conditioners, and its newest line, Xiaomi Auto, builds EVs including the SU7 sedan, delivering 411,082 vehicles in 2025, up 200.4% year over year. In 2025 its AI arm, the MiMo team, added a fourth pillar: open-weights models on Hugging Face and GitHub under MIT license, starting with MiMo-7B that April.
In September 2026 the MiMo team, led by Fuli Luo, a former DeepSeek and Alibaba DAMO Academy researcher, livestreamed the reinforcement-learning training behind MiMo-V2.6 in public at mimo.xiaomi.com/rl, publishing reward curves and a cost counter that passed $3 million in spend by September 19, 2026. V2.6 followed the March 2026 launch of MiMo-V2-Pro, MiMo-V2-Omni and MiMo-V2-TTS, and June's open-sourcing of MiMo Code, an agentic coding assistant.
Xiaomi is not venture-funded. It has traded publicly on the Hong Kong Stock Exchange since its 2018 IPO, with a market capitalization of roughly $735 billion as of September 6, 2026. It posted record 2025 revenue of RMB 457.3 billion, up 25% year over year, and adjusted net profit of RMB 39.2 billion, up 44%. Its smart-EV, AI and new-initiatives segment brought in RMB 106.1 billion in 2025, up 223.8%, and turned operating-profit positive for the first time.
Xiaomi runs a smartphone-times-AIoT-times-EV strategy: cheap hardware builds a large installed base that drives higher-margin internet services and cross-sells into IoT and vehicles. In March 2026, CEO Lei Jun committed over US$8.7 billion to AI over three years, funding the MiMo lineup and AI features across Xiaomi's product lines.
Xiaomi employed 56,531 people per its 2025 annual report. Lei Jun remains founder, chairman and CEO; co-founder Lin Bin served as president until 2019 and is now vice chairman. The MiMo research team operates as a dedicated unit under Fuli Luo, distinct from Xiaomi's hardware and mobile-software divisions.
Xiaomi's stated mission is to "relentlessly build amazing products with honest prices to let everyone in the world enjoy a better life through new technology," with "Innovation for Everyone" as its vision. The MiMo team publishes technical reports on arXiv and open-sources weights via the XiaomiMiMo organization. Its training approach, called Aligned RL, pairs reinforcement-learning scaling with environment hardening and verifier cross-checks against reward hacking, plus a self-correction step for misaligned reasoning. Xiaomi has not published a frontier-safety framework comparable to a responsible scaling policy, nor named third-party red-teaming partners for MiMo.
Xiaomi positions MiMo-V2.6-Pro against DeepSeek's V4 line and, per its own announcement, claims it performs on par with proprietary leaders like GPT-5.6 Sol and Claude Opus 5 on agentic coding benchmarks. Its edge over pure AI labs is distribution: it can ship MiMo capabilities directly into hundreds of millions of phones, IoT devices and vehicles. Its gap is a far shorter frontier-research track record than OpenAI, Anthropic or Google DeepMind, and no disclosed safety framework or AI-specific compliance certifications.
As a Chinese company, Xiaomi's generative-AI products fall under China's generative-AI service rules, and its consumer hardware and cloud services elsewhere follow GDPR in the EU, where it has held TRUSTe certification since 2018 alongside ISO/IEC 27001 and 27018 certifications. Xiaomi has not disclosed how its open-weights models are classified under the EU AI Act's general-purpose-AI provisions.
Mission
Relentlessly build amazing products with honest prices to let everyone in the world enjoy a better life through new technology.
Products
- Xiaomi Smartphones & HyperOS (Consumer hardware + OS): https://www.mi.com/global/
- MiMo model family (Open-weights foundation models): https://huggingface.co/XiaomiMiMo
- MiMo Code (Agentic coding assistant): https://github.com/XiaomiMiMo/MiMo-Code
- Xiaomi Auto (SU7 line) (Electric vehicles)
Xiaomi Corporation Models on HokAI
Compliance
ISO/IEC 27001, ISO/IEC 27018, SOC 2, GDPR (TRUSTe-certified since 2018)
Links
Frequently Asked Questions
How much funding has Xiaomi Corporation raised?
Xiaomi is not a venture-funded startup: it listed on the Hong Kong Stock Exchange (1810.HK) in its July 2018 IPO and has traded publicly since, with a market capitalization of roughly $735 billion as of September 6, 2026. Its AI division does not raise separate funding rounds; CEO Lei Jun committed over $8.7 billion in group-wide AI investment over three years starting March 2026.
What AI products does Xiaomi make in 2026?
Xiaomi's MiMo team ships open-weights foundation models under the MIT license, including the 2026 MiMo-V2.6 Pro and Flash checkpoints, plus MiMo-V2-Omni for multimodal tasks, MiMo-V2-TTS for speech, and MiMo Code, an agentic coding assistant open-sourced in June 2026. All are free to download and self-host from Hugging Face or GitHub.
How does Xiaomi handle data privacy and compliance?
Xiaomi holds ISO/IEC 27001 and ISO/IEC 27018 security and privacy certifications and has held TRUSTe certification for GDPR compliance since 2018 across its consumer cloud services. The MiMo team has not published a separate data-retention or training-data policy specific to its AI models.
Who are Xiaomi's main AI competitors?
In open-weights models, Xiaomi's MiMo series competes most directly with DeepSeek and Alibaba's Qwen line, both also Chinese labs shipping permissively licensed weights; Xiaomi's own announcement claims MiMo-V2.6-Pro performs on par with proprietary leaders like GPT-5.6 Sol and Claude Opus 5 on agentic coding tasks. Xiaomi's edge is embedding its models directly into its own phones, IoT devices and vehicles; its gap is a far shorter frontier-research history than OpenAI, Anthropic or Google DeepMind.
How do you start using Xiaomi's MiMo models?
Developers can download MiMo-V2.6-Pro and Flash weights directly from Hugging Face (huggingface.co/XiaomiMiMo) or GitHub (github.com/XiaomiMiMo) for self-hosting, or evaluate the models through third-party API resellers. Xiaomi's own MiMo documentation site (mimo.mi.com) covers setup and model updates.