Anthropic Gross Margin Far Exceeds Zhipu AI and MiniMax

Nov 3, 2026
Anthropic recorded an 85.4% gross margin in the first half of 2026, compared with 26.4% for Zhipu AI and 17.9% for MiniMax.

Anthropic recorded an 85.4% gross margin in the first half of 2026, compared with 26.4% for Zhipu AI and 17.9% for MiniMax, according to the South China Morning Post. Anthropic generated $16.3 billion in revenue during the period, while Zhipu AI generated $141 million and MiniMax generated $116.6 million.

Anthropic produced $2.08 in revenue for every dollar spent on computing resources during the second quarter, HSBC analysts wrote. Zhipu AI produced $0.46 per dollar, although its revenue per dollar of compute increased 23 fold from the first half of 2025.

Beijing-based analyst Poe Zhao said Anthropic's gross profit covered its research spending about 1.4 times during the first half. Zhipu AI's gross profit covered about one eighth of its research spending, while MiniMax covered about one fourteenth.

We hope you enjoyed this article

Consider subscribing to one of our newsletters like AI Funding Brief or Daily AI Brief.

Also, consider following us on social media:

AI Funding News AI Brief AI Brief (X)
Free newsletter

AI Funding Brief

Guide
Companies building payments for AI agents

Companies building payments for AI agents

The networks, processors, platforms, rails and startups that let AI agents pay

Industry analysis

2025 Global Business Services Agenda: Gen AI Takes Center Stage

The Hackett Group

This industry analysis by The Hackett Group explores the transformative impact of generative artificial intelligence (Gen AI) on global business services (GBS) in 2025. The study highlights the shift from exploration to acceleration of Gen AI initiatives, with 89% of executives advancing these projects to improve customer satisfaction, innovate products, and reduce costs. The report also discusses the challenges and strategies for successful Gen AI adoption, emphasizing the need for a technology-enabled operating model and the importance of reskilling the workforce.

Read more

You may also like

Free, six days a week

Daily AI Brief: the AI news that matters, in your inbox.