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Chinese AI firms earn 10% of OpenAI revenue

By Drooid · Sep 18, 2026, 2:34 PM UTC · How we work

Summary

Story summary

Rhodium reports Chinese AI developers generate only about 10% of OpenAI and Anthropic revenue.
Seven Chinese firms posted $10.7 billion ARR from March-August 2026.
ByteDance led with $4 billion ARR while Alibaba posted $2.4 billion.
Moonshot’s valuation multiple is about 50× revenue, DeepSeek’s is roughly 163×, versus OpenAI’s 34×.
Z.ai and MiniMax may remain loss-making through 2030 because of heavy computing costs.

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Story summary

Rhodium reports Chinese AI developers generate only about 10% of OpenAI and Anthropic revenue.
Seven Chinese firms posted $10.7 billion ARR from March-August 2026.
ByteDance led with $4 billion ARR while Alibaba posted $2.4 billion.
Moonshot’s valuation multiple is about 50× revenue, DeepSeek’s is roughly 163×, versus OpenAI’s 34×.
Z.ai and MiniMax may remain loss-making through 2030 because of heavy computing costs.