智譜: La rentabilidad bruta de la plataforma MaaS aumenta casi 5 veces

SighingCashier · 2026-03-31T14:06:38+00:00

El CEO Zhang Peng reveló en la reunión de resultados que el ARR anual de la plataforma MaaS de la compañía(, que incluye servicios de plataforma abierta y API), ha alcanzado aproximadamente 1.7 mil millones de yuanes chinos, un aumento de 60 veces en los últimos 12 meses, con un margen bruto de la plataforma MaaS que casi se quintuplica hasta el 18.9%.También mencionó que, hasta marzo de este año, incluso con un aumento del 83% en los precios de las llamadas API de la plataforma MaaS en comparación con fines del año pasado, la demanda sigue siendo insatisfecha, lo que indica que la inteligencia avanzada es un recurso escaso en la actualidad. "Quien domine la capacidad de los modelos de punta en inteligencia, tendrá el control del poder de fijación de precios".Zhang Peng habló sobre cómo las capacidades de la IA hoy en día están pasando de ser "utilizables" y "jugables" a una producción real, resolviendo problemas cada vez más complejos, haciendo que las llamadas API y el consumo de tokens se conviertan verdaderamente en valor económico.

SighingCashier

2026-03-31 14:06:38

Spire (02513) The chief executive officer, Zhang Peng, disclosed in the results briefing that the company’s MaaS platform (Model as a Service, namely open platform and API business) ARR (annual recurring revenue) has reached approximately RMB 1.7 billion as of March. In the past 12 months, it has increased 60-fold. The MaaS platform’s gross margin has increased nearly 5-fold to 18.9%.

He also said that as of this March, even though the API calling pricing of the MaaS platform was increased by 83% compared with the end of last year, demand still outstrips supply, indicating that high-end intelligence is a scarce resource at present. “Whoever controls the intelligence upper bound (top-tier model capability), whoever controls pricing power.”

Zhang Peng said that today AI capabilities have moved from “available” and “playable” to real production, solving increasingly complex problems, so that API calls and token consumption can truly translate into economic value. Combined with new application forms and device-level native intelligence development such as OpenClaw, token consumption in the future can be expected to show exponential growth.

Regarding the company’s positioning, Zhang Peng said that over the past year, Anthropic has been one of the most closely watched AI companies globally. Its growth logic is clear: it focuses on delivering the strongest models to enterprises and developers via APIs. Such a business model and growth are also happening at Spire: “When the model is strong enough, the API itself is the best business model.” In 2026, Spire will continue to develop along the business path of “the Anthropic of China,” with model intelligence as the foundation and the API platform as the engine.

When asked about the impact of large models on the traditional software industry, Zhang Peng believes that the software and IT (information technology) industries will see a new paradigm emerge. Some traditional software companies may be affected—this is a normal phenomenon of the replacement brought about by a new era.

As for compute power shortages, Spire stated that facing the shortage in compute power supply that has seen demand outstrip supply since February this year, it will continue to increase investment, especially by deepening localization chip compatibility and software-hardware integrated optimization, to “squeeze” inference performance to the limit.

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