MiniMax revenue surges 283% in first half of 2026 as enterprise AI demand explodes

MiniMax Group, the Shanghai-based multimodal AI company, just posted the kind of numbers that make competitors quietly update their strategy decks. Revenue hit $116.6 million in the first half of 2026, a 283.1% jump from $30.4 million in the same period last year. The growth engine behind the surge tells an even more interesting story. Revenue from MiniMax’s Open Platform and enterprise services climbed 703.1% to $73.9 million, accounting for 63.4% of total revenue. Where the money is coming from MiniMax’s revenue breaks down into two major buckets, and both are growing fast, just at very different speeds. The Open Platform and enterprise services segment, which essentially lets businesses and developers plug into MiniMax’s AI models, nearly octupled its revenue year-over-year. The second bucket, AI-native products, grew a more modest (by comparison) 100.9% to $42.6 million. This segment includes Hailuo AI, the company’s consumer-facing product. Gross profit tells a similar story of acceleration. MiniMax reported $20.8 million in gross profit for the first half, up 464.8% from the prior year period. The company still posted a net loss of $358 million for the period. That’s actually...