The consumer-first chapter at MiniMax is closing. The Chinese AI startup reported $117M in first-half 2026 revenue, up 283% year over year, and for the first time its enterprise and open-platform services out-earned its consumer apps.
Enterprise AI and open-platform revenue jumped 703% and now accounts for 63.4% of the total, up from 30.3% a year earlier. Revenue from AI-native products such as its Talkie app rose 100.9% to $42.6M, while gross profit climbed 464.8% to $20.8M.
The shift marks a strategic turning point for the Alibaba-backed company, which built its name on consumer chatbots and video models. Selling model access and API capacity to businesses has become the faster-growing half of its business as Chinese AI vendors compete aggressively on price.
Investors are watching MiniMax closely as one of China’s strongest contenders in the global AI race, and as Beijing pushes domestic model makers to convert technical leadership into commercial revenue.
