MiniMax revenue seen rising to $219M in 2026, reaching $5.8B by 2030

Chinese AI start-up MiniMax Group Inc. (HKG: 0100) is poised for a sharp acceleration in growth, based on Visible Alpha consensus estimates.

Founded in early 2022, the company moved quickly to public markets, listing in February amid a broader surge of interest in AI infrastructure and application-layer businesses. Analysts expect Minimax’s revenues to reach $219 million in 2026, up from $79 million last year. Over the longer term, analysts forecast a steep ramp-up, with revenues projected to climb to $5.8 billion by 2030.

The bulk of that growth is set to come from its AI-native portfolio, which includes the generative video platform Hailuo AI, chatbot Talkie, the core model platform MiniMax, and voice synthesis offering MiniMax Audio. Revenues from these products alone are estimated at around $123 million in 2026 and are expected to surge to $3 billion by the end of the decade.

For the company’s AI-native products, user growth is also forecast to remain robust. MiniMax’s products are projected to reach 2.56 million users in 2026, up from 1.8 million last year, while revenue per paying user is expected to increase to $40 from $22 in 2025.

Beyond its core AI-native products, MiniMax’s open platform and other enterprise AI services are expected to contribute a further $96 million in 2026, or roughly 44% of total revenue. That segment is also projected to grow rapidly, with analysts forecasting revenue of about $2.8 billion by 2030.

This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.