MiniMax disclosed at its 2026 mid-year results meeting that its annual recurring revenue, or ARR, exceeded $800 million in August. The company also said second-quarter revenue rose 81.8% from the first quarter, while July token consumption reached 20 times the level recorded in January. According to the company, enterprise-facing business now accounts for more than 80% of total ARR.
MiniMax also outlined details on its computing infrastructure. It said it is one of the first two independent large-model companies in China to establish a scaled, long-term stable infrastructure system. The company added that its infrastructure can independently support the largest training tasks, and that its Effective Training Time Ratio, or ETTR, has reached 97%.
According to ChainCatcher, MiniMax said at its 2026 mid-year results meeting that its annual recurring revenue (ARR) exceeded $800 million in August, while second-quarter revenue increased 81.8% from the first quarter.
Revenue and usage metrics
The company said July token consumption reached 20 times its January level. It also disclosed that business-to-business operations now contribute more than 80% of total ARR.
Infrastructure and training capacity
MiniMax said that in computing capacity, it is one of the first two independent large-model companies in China to build a scaled and long-term stable infrastructure system. The company added that its infrastructure can independently support the largest training tasks, and that its Effective Training Time Ratio (ETTR) has reached 97%.
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