Chinese artificial intelligence firm MiniMax Group Inc. reported a 283% surge in revenue to $116.6 million for the first half of 2026, driven by a 703% jump in its enterprise Open Platform segment to $73.9 million. Despite a five-fold increase in gross profit to $20.8 million and a 60.8% revenue contribution from international markets, the company posted a net loss of $358 million. MiniMax, backed by Alibaba and Tencent, continues to expand globally while trailing rivals like Z.AI Co. in top-tier model releases.
MiniMax H1 2026 revenue growth
- ▪MiniMax Group Inc.'s first-half 2026 revenue of $116.6 million accounted for approximately 32% of the $363.77 million full-year revenue expected by analysts.
- ▪MiniMax Group Inc.'s revenue surged 283% year-on-year to $116.6 million in the first half of 2026, up from $30.4 million in the first half of 2025.
- ▪MiniMax Group Inc. reported a full-year revenue of $79 million for 2025, representing a 159% growth compared to the prior year.
Enterprise AI platform expansion
- ▪MiniMax Group Inc.'s Open Platform and enterprise services revenue grew 703% year-on-year to $73.9 million in the first half of 2026, up from $9.2 million in the first half of 2025.
- ▪MiniMax Group Inc.'s AI-native products segment, which includes the consumer-facing Hailuo AI, grew 100.9% year-on-year to $42.6 million in the first half of 2026.
- ▪MiniMax Group Inc.'s Open Platform and enterprise services segment accounted for 63.4% of its total revenue in the first half of 2026, up from 30.3% in the first half of 2025.
Geographic revenue distribution
- ▪International markets outside of China contributed approximately 60.8% of MiniMax Group Inc.'s total revenue in the first half of 2026.
- ▪MiniMax Group Inc. operates across more than 230 countries and regions, serving over 300 million individual users and more than 1 million enterprises and developers worldwide.
Net losses despite gross profit gains
- ▪MiniMax Group Inc.'s adjusted net loss expanded 111.2% year-on-year to $293 million in the first half of 2026, up from approximately $139 million in the first half of 2025.
- ▪MiniMax Group Inc. posted a net loss of $358 million for the first half of 2026, representing an 11% improvement from the $402 million net loss in the first half of 2025.
- ▪MiniMax Group Inc.'s gross profit grew over five-fold to $20.8 million in the first half of 2026, with gross profit margin increasing to 17.9% from 12.1% in the first half of 2025.
Competitive AI market positioning
- ▪MiniMax Group Inc. completed its initial public offering on the Hong Kong Stock Exchange in January 2026, and its shares traded around HK$303 following the first-half earnings announcement on August 26, 2026.
- ▪MiniMax Group Inc., which counts Alibaba and Tencent among its major backers, was founded in December 2021.
- ▪MiniMax Group Inc. trailed rivals such as Z.AI Co. in releasing top-tier large language models in the crowded Chinese artificial intelligence market.
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