Hailuo AI Review — MiniMax's $11B Video Generator with Official MCP, Hollywood Lawsuit, and IPO

MiniMax's Hailuo AI video platform crossed 600 million generated videos and 236 million users by end of 2025, went public on the Hong Kong Stock Exchange in January 2026 at an $11.5 billion debut market cap, and operates one of the few official MCP servers in AI video generation. The Disney-led copyright lawsuit and Anthropic's distillation accusation complicate the story. Hailuo 2.3 (ELO ~1,178) sits in a crowded mid-tier, but the API pricing, generation speed, and human-motion quality remain genuine competitive advantages.