MiniMax revenue surges 283% as Chinese AI demand accelerates

China's MiniMax generated $116.6M in revenue during the first half of 2026, up 283% year over year.
Analysts now expect full-year sales growth of roughly 360%, while the company is valued at approximately $13B.
MiniMax is competing through lower-cost AI models and consumer products, with its M3 model and H3 video model helping drive adoption and monetization.
Growth is expensive, however. Bloomberg Intelligence expects operating losses to roughly double to around $600M this year as inference costs rise.
MiniMax raised approximately $2B last month to finance additional compute and semiconductor spending.