Chinese AI company MiniMax has experienced a significant expansion in its global client base, achieving a fivefold increase over the past six months. The company’s client and developer numbers have surpassed 1 million, a leap from 200,000 half a year ago, according to co-founder and president Yun Yeyi. Despite facing financial losses, MiniMax has expanded its international presence, with its global user base reaching 300 million. The company’s annual recurring revenue (ARR) has more than doubled in the last two months, driven by high demand for its generative AI products, reaching over $150 million by February. MiniMax, alongside its competitor Zhipu AI, is set to join Hong Kong’s Hang Seng Index after a quarterly review, with its shares having surged nearly 500% since its IPO in January.
How did MiniMax achieve a fivefold client growth in six months?
