MiniMax revealed the model behind the anonymous "Space Bunny" system it says processed more than 200 trillion tokens, and published the weights. M3.1 Flash is a mixture-of-experts model with roughly 428B total parameters and 23B activated per token, supporting a 1M-token context window, with text, image and video inputs. MiniMax reports nearly three times faster online inference than its predecessor, 70% lower agentic task cost, and output speeds reaching 200+ tokens per second with P50 above 170. On its own benchmarks it scores 62.8 on Automation-Bench v1.0.6, 73.7 on DeepSWE v1.1, 61.7 on OSWorld 2.0, 82.2 on CyberGym and 29.6 on Agents' Last Exam. Flat API pricing is $0.15 per million input tokens, $0.60 output and $0.015 cached input. The honest caveat: these benchmark, speed and cost figures are MiniMax's own, not third-party verified, and the released weights use the MiniMax Community License, which is free for non-commercial use and carries conditions on commercial use. The model card notes results are for official weights and that third-party quantizations may differ.
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Two sparse-autoencoder analyses have resisted scaling: matching semantically similar features across layers, and compressing large feature circuits into interpretable supernodes. This paper argues both are the same underlying problem, estimating semantic distances between SAE features that sit on different activation manifolds. Its representation treats each feature not as a single decoder vector but as an activation-weighted distribution over the hidden states expressing it, projects those distributions into a shared reference space, and compares them with Wasserstein distance. The representation is proved invariant to activation rescaling and stable under perturbation, and recovers true matches under finite-sample margin conditions. Empirically it outperformed decoder-vector and LLM-based baselines and captured subtle functional distinctions between related features, and it compressed large feature circuits into interpretable supernodes automatically. The limitation is that this is interpretability tooling: the paper demonstrates better feature matching and circuit compression, not that downstream interpretability claims become more accurate.