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In April ByteDance’s Volcano Engine raised its 2026 MaaS revenue target to 15 bln yuan from a 10 bln yuan target at end‑2025. Full‑year MaaS revenue in 2025 was about 1.5 bln yuan, making the 2026 target roughly 10x last year’s actual. Industry sources say the Seedance 2.0 model alone is already generating over 1 bln yuan in monthly revenue and is still ramping. That monthly run‑rate was achieved before a full overseas API rollout, and Volcano Engine is likely to further raise its MaaS target.

HAMMACK said he is increasingly concerned about the risk of persistently high inf.