1. Summary

MiniMax's revenue for the first half of 2026 reached $116.6 million, an increase of 283.1% compared to the same period last year finance.biggo.jp. The revenue structure has shifted alongside a surge in income from the Open Platform. Parallel to this, the company's stock price has also risen. In the Hong Kong market, the company's shares recorded 318.00 HKD, up 4.95% finance.biggo.jp.

Additionally, a separate development has occurred: the U.S.-based company Agora announced a collaboration with MiniMax regarding real-time conversational AI finance.biggo.jp.

2. Plans, Pricing, and Usage Limits

The pricing for "H3 Max" provided by fal.ai is $0.08 (approx. ¥12.8) per second for 768p [ASCII.jp]. Generating a 15-second clip requires $1.2 (approx. ¥192) [ASCII.jp]. A free tier is also available for trial [ASCII.jp].

3. Official announcements

2026-07-31 — MiniMax announced the video generation model "MiniMax H3" [ASCII.jp]
2026-02-13 — MiniMax released the "MiniMax M2.5" model [minimax.io]
2025-12-26 — MiniMax released the multilingual model "MiniMax M2.1" [minimaxi.com]

4. Key Events (Chronological)

  • 2026-09-04 — OpenAI announced its latest model "GPT-6 Astra," causing AI-related stocks in China to rise (see Summary) [Investing.com]
  • 2026-08-31 — fal.ai released "MiniMax H3 Max," an optimized version of MiniMax H3 [ASCII.jp][shiritomo]
  • 2026-08-28 — MiniMax's enterprise AI revenue surged by 283% year-on-year for the first half of the year (see Summary) finance.biggo.jp
  • 2026-08-28 — Agora announced a collaboration with MiniMax regarding real-time conversational AI (see Summary) finance.biggo.jp
  • 2026-08-28 — An AI anime video titled "The Daily Life of Mikan Cat and Yona Cat," created using MiniMax, was published on YouTube [YouTube]
  • 2026-08-27 — MLX-VLM v0.6.17 fixed a sparse-index compilation re-trace leak for MiniMax-M3 MLX-VLM v0.6.17
  • 2026-08-11 — A project to run MiniMax H3 natively on Apple Silicon was published on GitHub [Hacker News]
  • 2026-08-03 — It was reported that ComfyUI began Day-0 support for MiniMax H3 [Hacker News]
  • 2026-06-20 — Benchmark results for MiniMax M3 in coding tasks were reported [Thinkwright]
  • 2026-04-12 — MiniMax M2.7 was released as open source [Hacker News]
  • 2026-02-13 — MiniMax released M2.5 [minimax.io]
  • 2025-12-26 — MiniMax released the multilingual model "MiniMax M2.1" [minimaxi.com]

5. Community Reaction and User Experience

Researchers on X have pointed out that the underlying technology for HUMAIN M3 is MiniMax [KuCoin]. There have been expressions of surprise regarding H3 Max's increased speed while maintaining quality [ASCII.jp]. Anthropic mentioned suspicions of distillation attacks by other companies, including MiniMax [Hacker News].

6. Sources