**[MiniMax's Half-Year Revenue Surpasses Last Year's Total: Enterprises and Developers Driving 60% of Growth]** Beating AI News Flash: MiniMax's revenue for the first half of the year reached $117 million, a year-on-year increase of 283.1%, already surpassing the total revenue of last year. The fastest-growing segment is the business of enterprises and developers utilizing MiniMax's models. Revenue from this segment surged from $9.2 million to $73.93 million, a year-on-year growth of 703.1%, accounting for 63.4% of total revenue. The growth is primarily driven by an increase in paid users and enterprise clients, higher API call volumes, and the widespread adoption of token packages. Revenue from AI products such as Conch AI also doubled, reaching $42.64 million, but its share has dropped to 36.6%. Overseas markets remain the primary source of revenue, with income from regions outside mainland China accounting for 60.8%. Profitability has improved, with the gross margin rising from 12.1% to 17.9%, while sales and marketing expenses decreased by 17.9%. However, research and development remains a significant expense, with R&D spending reaching $297 million in the first half of the year, approximately 2.5 times the revenue for the same period. Net losses on the books narrowed by 11% year-on-year to $358 million, primarily due to a substantial reduction in fair value losses on financial liabilities post-listing. Excluding such items, adjusted net losses actually expanded by 111.2% to $293 million. [Original Link]