The company's performance reflects a broader shift in its business model, with Open Platform services now accounting for 63.4% of total revenue. This segment, which includes enterprise API access and token-based plans, brought in US$73.9 million, compared to US$9.2 million in the first half of 2025. Meanwhile, revenue from AI-native consumer products like Hailuo AI grew more modestly, reaching US$42.6 million.
In section Releases
MiniMax Revenue Surges 283% as AI Model Inference Demand Climbs
MiniMax Group reported a sharp revenue increase to US$116.6 million for the first half of 2026, a 283.1% jump compared to the same period last year. The Hong Kong-based AI developer saw its enterprise services revenue surge sevenfold, even as the company continues to absorb heavy research and development costs.
Despite the revenue growth, MiniMax reported an adjusted net loss of US$293.0 million, widening from US$138.7 million a year prior. CEO Dr. Yan Junjie noted that token consumption increased 20-fold by July 2026, signaling high demand for model inference. To support this, research and development spending rose to US$296.9 million, largely driven by cloud infrastructure requirements for training foundation models. The company finished the period with a cash balance of US$1.32 billion, bolstered by significant shifts in its balance sheet liabilities.
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