Zhipu reported H1 2026 revenue of 954 million yuan, up nearly 400% year-on-year, driven by its MaaS platform which generated 825 million yuan, representing 86.5% of total revenue. Token usage on the platform surged over 40 times, while paid daily active users grew by 603%. The average API price also rose by approximately 101%, reflecting strong market recognition of its commercial value and service premium. Cloud-based large model services have solidified their position as Zhipu's core commercial pillar, demonstrating significant acceleration in the company's overall commercialization process.