Despite soaring revenue and enterprise growth, MiniMax’s results underscore the fierce competition with US and Chinese AI labs
2-MIN READ2-MINXinmei ShenPublished: 6:52pm, 26 Aug 2026Chinese artificial intelligence firm MiniMax on Wednesday posted a 283 per cent surge in first-half revenue to US$116.6 million, powered by a 700 per cent jump in its enterprise business, though top-line growth remains off pace to hit full-year analyst forecasts.
Revenue for the six months ended June 30 accounted for roughly 32 per cent of the US$363.77 million expected by analysts for the full year 2026, according to estimates compiled by Bloomberg. The company reported full-year revenue of US$79 million for 2025.
The top-line growth was largely driven by MiniMax’s enterprise-facing business. Revenue from its Open Platform and other AI-based enterprise services jumped more than 703 per cent year on year to US$73.9 million from US$9.2 million.
This segment accounted for 63.4 per cent of its total revenue, expanding from just 30.3 per cent a year earlier, reflecting growth in paying users and enterprise customers, according to MiniMax. Revenue from other AI-native products also doubled.
On the bottom line, total loss for the period narrowed 11 per cent to US$358 million. However, adjusted net loss expanded 111.2 per cent to US$293 million from about US$139 million a year earlier, the company said.
Gross profit grew more than five-fold to US$20.8 million from US$3.7 million, as gross profit margin increased to 17.9 per cent from 12.1 per cent in the same period a year earlier, according to MiniMax.
Shares of Hong Kong-listed MiniMax closed up 1.13 per cent at HK$303 on Wednesday ahead of the earnings announcement.
