Overview
MiniMax develops foundation models across text, video, image, speech and music and sells them through an open platform for developers and through consumer applications. Its interim results announcement states that total revenue for 2025 was US$79.0 million[35]. In the six months to 30 June 2026, revenue rose 283.1% to US$116.6 million, already above the full-year 2025 figure, and revenue from the Open Platform and other AI-based enterprise services rose from US$9.2 million to US$73.9 million, or 63.4% of the total[35]. The loss for the half-year was US$358.0 million[35]. MiniMax trades in Hong Kong under stock code 0100[35]. Its model releases in 2026 include MiniMax M3 for text and H3 for video and images. Losses remain several times revenue.
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