MiniMax's 2026 interim results conference call on the evening of August 26 mentioned that MiniMax's revenue structure is changing rapidly. Judging from the latest ARR structure, the To-B business accounts for about 80%, and the To-C business accounts for about 20%. Compared with the To-B business accounting for about 30% and To-C accounting for about 70% in the same period last year, the speed of adoption of the model by enterprises and developers is clearly accelerating. MiniMax said that as the M2 series continues to be upgraded and the M3 and H3 are launched one after another, the level of model intelligence and inference throughput are simultaneously improving, and the model calling requirements of enterprises and developers are becoming MiniMax's new revenue force.

MiniMax's 2026 interim results conference call on the evening of August 26 mentioned that MiniMax's revenue structure is changing rapidly. Judging from the latest ARR structure, the To-B business accounts for about 80%, and the To-C business accounts for about 20%. Compared with the To-B business accounting for about 30% and To-C accounting for about 70% in the same period last year, the speed of adoption of the model by enterprises and developers is clearly accelerating. MiniMax said that as the M2 series continues to be upgraded and the M3 and H3 are launched one after another, the level of model intelligence and inference throughput are simultaneously improving, and the model calling requirements of enterprises and developers are becoming MiniMax's new revenue force.