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Zhipu MaaS Business Soars: Revenue Doubles, Token Usage Up 40-Fold

Zhipu, a prominent AI company, has reported a remarkable financial performance for the first half of 2026, with revenue hitting 954 million yuan—a near 400% increase year-over-year. This figure alone surpasses the company's entire revenue from the previous year, underscoring a significant acceleration in its commercialization efforts.

The star of the show is Zhipu's MaaS (Model as a Service) open platform and API business, which generated 825 million yuan in revenue during the same period, a staggering 2736% growth from the previous year. This segment now accounts for 86.5% of the company's total revenue, cementing cloud-based large model services as its core commercial pillar.

What's driving this explosive growth? The numbers tell a compelling story. By the end of August, token usage on the MaaS platform had increased more than 40 times compared to the start of the year. Paid daily active users saw a 603% jump, and the top ten core customers' daily average usage grew by 98 times. Even more telling, the average price per API rose by about 101%, indicating that the market is willing to pay a premium for Zhipu's models, recognizing their commercial value and service quality.

This performance reflects a broader trend in the AI industry: the shift from experimental adoption to serious, revenue-generating deployment. Zhipu's success suggests that businesses are not just experimenting with AI but integrating it into their core operations, driving demand for scalable, cloud-based solutions.

Looking ahead, Zhipu's trajectory appears promising. The company's ability to scale its MaaS platform while increasing prices demonstrates a healthy balance between growth and profitability. As more enterprises embrace AI, Zhipu is well-positioned to capitalize on this momentum, potentially setting new benchmarks for the industry.

In summary, Zhipu's mid-year results are a testament to the growing importance of AI services in the enterprise sector. With its MaaS business leading the charge, the company is not just riding the AI wave—it's helping to shape it.

Key Points

  • Zhipu's H1 2026 revenue reached 954 million yuan, up nearly 400% year-over-year, surpassing the entire previous year's total.
  • MaaS and API business generated 825 million yuan, a 2736% increase, now 86.5% of total revenue.
  • Token usage on the MaaS platform grew over 40-fold since the start of the year; paid daily active users up 603%.
  • Average API price rose ~101%, indicating strong market recognition of model value.
  • Top ten core customers' daily usage increased 98 times, showing deep enterprise adoption.