Chinese OpenAI (OPENAI) rivals MiniMax and Zhipu AI have provided a first glimpse into their business models and earnings potential through listing filings.
The two outfits, which count Alibaba Group Holding (BABA) and Tencent Holdings (TCEHY) among their common backers, are in a heated race to become the first domestic generative AI startups to go public.
For 2024, Zhipu and MiniMax generated 312.4 million yuan ($44.4 million) and $30.5 million in revenue, respectively.
By comparison, OpenAI is estimated to generate $13 billion in annualized revenue, while Anthropic is projected to reach $9 billion this year, whereas Zhipu and MiniMax are valued at a more modest roughly $4 billion each.
