China's MiniMax sees revenue nearly quadruple in first half as AI demand surges

Revenue for the six months ended ‌June 30 ⁠rose ⁠283.1% from a year earlier to $116.6 million, reflecting surging demand for cheaper, ​open-source-based models from Chinese providers.

MiniMax said it will keep pushing to extend the "performance-cost frontier," first ​getting performance to a level that ⁠can handle ‌complex real-world tasks and then improving efficiency ​to ​allow capabilities to be rolled out more widely and ⁠affordably.