MiniMax revenue surges 283% but remains behind pace to meet forecast amid crowded AI race

Despite soaring revenue and enterprise growth, MiniMax’s results underscore the fierce competition with US and Chinese AI labs Chinese 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.

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