MiniMax: July Token Consumption Surges to 20x Early-Year Levels

Odaily reported that MiniMax disclosed at its mid-2026 results conference on the evening of August 26 that the company's annual recurring revenue (ARR) has surpassed $800 million in August, with Q2 revenue growing 81.8% quarter-over-quarter. July token consumption reached 20 times the January level, and B2B business now contributes over 80% of overall ARR.

MiniMax stated that in terms of computing power, the company is one of the first two independent large model companies in China to establish a large-scale, long-term stable infrastructure system. The infrastructure can now independently support the largest training tasks, with ETTR (Effective Training Time Ratio) reaching 97%.