MiniMax revenue surges 283% but remains behind pace to meet forecast amid crowded AI race
Chinese AI firm MiniMax reported a 283 percent surge in first-half revenue, reaching US$116.6 million. This growth was largely fueled by a 700 percent jump in its enterprise business, specifically its Open Platform and other AI-based enterprise services, which generated US$73.9 million. Despite this rapid expansion, the company's revenue remains off pace to meet analyst forecasts of US$363.77 million for the full year 2026. MiniMax also saw its gross profit increase five-fold to US$20.8 million, though its adjusted net loss expanded to US$293 million.
MiniMax's strong enterprise growth, with a 700 percent jump in its B2B AI services, points to a clear demand for AI solutions among Chinese businesses. This is a significant shift, as the enterprise segment now accounts for over 63 percent of its total revenue, up from 30 percent a year ago. It shows that despite the crowded AI market, companies that can deliver tangible value to businesses are finding traction and scaling rapidly in China. The increase in gross profit margin to 17.9 percent also suggests some efficiency gains as the company grows. However, the expanding adjusted net loss to US$293 million is the thing to watch. While top-line growth is impressive, the profitability challenge in a highly competitive AI race remains. MiniMax's ability to convert its revenue growth into sustainable profits will be key for its long-term viability against both domestic and international AI labs.
