Anthropic's 85.4% gross margin tops Z.ai's 26.4% and MiniMax's 17.9%
Overview
Anthropic reported an 85.4% gross profit margin for the first half of 2026 in its S-1 IPO prospectus filed with the US Securities and Exchange Commission, according to South China Morning Post.
Over the same period, Hong Kong-listed Z.ai (Zhipu AI) reported a 26.4% gross margin and MiniMax reported 17.9%, based on the two companies' latest financial disclosures.
The comparison is between figures from different filings. Anthropic's number comes from a US IPO prospectus, while the Chinese rivals' numbers come from their Hong Kong listing disclosures.
Written by AI from the articles below · updated Nov 3, 8:23 AM ET
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- South China Morning Post · TechNewsAnthropic's 85.4% gross margin dwarfs Z.ai's 26.4% and MiniMax's 17.9%
AIAnthropic reported an 85.4% gross profit margin in the first half of 2026 in its S-1 IPO prospectus, against 26.4% for Z.ai (Zhipu AI) and 17.9% for MiniMax, according to the two Hong Kong-listed companies' latest financial disclosures. The filing, submitted last week to the US Securities and Exchange Commission, shows a wide profitability gap between the Claude developer and its closest Chinese rivals.
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