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Chinese AI Startups Zhipu and MiniMax Trade at 1280x and 290x PS Ratios, Far Above U.S. Peers

AI Industry News

2026-06-22 04:09:35

According to monitoring by Beating and data disclosed by investor Tommy Shaughnessy, China-listed AI enterprises Zhipu AI and MiniMax command drastically higher price-to-sales ratios than U.S. counterparts. Zhipu AI has a market cap of approximately $13.7 billion but 2025 fiscal-year revenue of just $107 million, yielding a PS ratio of 1280x. MiniMax's market cap is around $2.3 billion with 2025 revenue of approximately $79 million, translating to a PS ratio of roughly 290x. By contrast, private U.S. AI leaders OpenAI and Anthropic carry PS ratios of approximately 34x and 21x respectively, while Alibaba (parent of Tongyi Qianwen) trades at just 1.6x PS.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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Comment

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ABigHeart

· 1h ago

In comparison, the private American AI leading companies OpenAI and Anthropic have price-to-sales ratios of approximately 34x and 21x, respectively, while Alibaba (the parent company of Tongyi Qianwen) is only trading at a 1.6x PS.

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