Chinese startup MiniMax's revenue up 4x in 6 months amid AI boom

Chinese AI startup MiniMax reported a nearly four-fold rise in first-half revenue to $116.6 million, up 283.1% year-on-year, driven by growing demand for its low-cost AI models and platform. The company remains loss-making, though its loss narrowed to $358 million from $402.2 million a year earlier. Revenue from AI-native products also doubled, rising 100.9% to $42.6 million.