Anthropic's filing for a stock market listing has highlighted how far Chinese artificial intelligence developers trail it in profitability, the South China Morning Post reports. According to the Claude maker's prospectus submitted to the US Securities and Exchange Commission last week, Anthropic had a gross profit margin of 85.4 per cent in the first half of 2026.
By comparison, the latest disclosures from Hong Kong-listed Z.ai, also known as Zhipu AI, showed a margin of 26.4 per cent, while MiniMax reported 17.9 per cent. Analysts told the paper that despite steady progress in the capabilities of Chinese models, the companies face a difficult task in turning technical advances into sustainable businesses, with Anthropic's far larger revenue base giving it a significant financial advantage.
Source: South China Morning Post