Company
Moonshot AI
Every release, deal and policy move from Moonshot AI — updated daily.
TopicsAll topics
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Moonshot AI IPO: $50B Valuation on HKEX Explained
Moonshot AI, behind Kimi chatbot, targets a $50B IPO on HKEX via Chapter 18C. Discover how it navigates compute constraints and sets benchmarks for China’s AI ecosystem. Explore the guide.
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Timeline
Funding
Moonshot AI raises $3.5B at $35B valuation*
Reported $3.5B at about $35B, led by China's state-backed National AI Industry Investment Fund (Bloomberg). Straits Times reported a higher ~$45B valuation; not confirmed by Moonshot.
bloomberg.com (source, opens in a new tab)Release
Kimi K3
2.8T-parameter multimodal MoE with a 1M-token context; open weights followed on Jul 27, 2026.
kimi.ai (source, opens in a new tab)Release
Kimi K2.7 Code
platform.kimi.ai (source, opens in a new tab)Funding
Moonshot AI raises $2B at $20B valuation in Meituan-led round
bloomberg.com (source, opens in a new tab)Release
Kimi K2.6
platform.kimi.ai (source, opens in a new tab)Funding
Moonshot AI raises $700M at $10B valuation
en.sedaily.com (source, opens in a new tab)Release
Kimi K2.5
platform.kimi.ai (source, opens in a new tab)Funding
Moonshot AI raises $500M Series C led by IDG at $4.3B
caixinglobal.com (source, opens in a new tab)
Sources: company announcements & release notes, press reports. * not independently verified.
Fact box
- HQ
- Beijing, China
- Founded
- 2023
- CEO
- Yang Zhilin
- Valuation
- $35B (Jul 2026, reported)
- Core products
- Kimi · Kimi K2 models
- Latest round
- $3.5B Round led by National AI Industry Investment Fund · Jul 2026
- Stories
- 37
Sources: moonshot.ai, bloomberg.com
Latest on X
Kimi.ai · @Kimi_Moonshot
We're sorry for the rate limits and unnecessary quota consumption on the K3.1 Pro subscription plan. These were our issues, and we should have fixed them sooner. Today, every subscriber on every plan gets a one-time usage reset, restoring 25% of their monthly quota (usage below
Meet Kimi K3.1 Pro, our most capable 3T-class model.
Introducing Kimi K3.1 Pro: our most capable 3T-class open-weight model. 🔹 1M-token context, 2.8T total / 104B active params (MoE), Multimodal. 🔹 Full-project coding: games in Unreal, Unity & Godot. 🔹 Excels at parametric 3D modeling in Blender & CAD. 🔹 More reliable at
Automate Your Workflows with Kimi Work – Tutorial #3 See how Kimi fits into your daily workflows: – Work across your local projects, browser, and computer. – Break down complex tasks using Swarm; iterate in Goal mode. – Customize how Kimi works with Plugins, AGENTS.md and
Meet the new Kimi Browser Extension, formerly Kimi WebBridge. From your browser sidebar, you can chat with Kimi to navigate websites, fill out forms, and get things done. For repetitive tasks, record your steps once and save them as a skill. Kimi can take it from there next
Editor's picks
Deals & funding
Moonshot AI · rounds, valuations, partners, acquisitions · $7.7B raised in tracked primary rounds
Funding
Moonshot AI raises $3.5B at $35B valuation*
Reported $3.5B at about $35B, led by China's state-backed National AI Industry Investment Fund (Bloomberg). Straits Times reported a higher ~$45B valuation; not confirmed by Moonshot.
bloomberg.com (source, opens in a new tab)Funding
Moonshot AI raises $2B at $20B valuation in Meituan-led round
bloomberg.com (source, opens in a new tab)Funding
Moonshot AI raises $700M at $10B valuation
en.sedaily.com (source, opens in a new tab)Funding
Moonshot AI raises $500M Series C led by IDG at $4.3B
caixinglobal.com (source, opens in a new tab)Funding
Moonshot AI raises over $1B led by Alibaba
techcrunch.com (source, opens in a new tab)
All 5 rounds & deals as a table · 5 funding, 0 partnerships, 0 acquisitions
| Date | Event | Type | Counterparty / round | Amount | Valuation | Source |
|---|---|---|---|---|---|---|
| Jul 29, 2026 | Moonshot AI raises $3.5B at $35B valuation* Reported $3.5B at about $35B, led by China's state-backed National AI Industry Investment Fund (Bloomberg). Straits Times reported a higher ~$45B valuation; not confirmed by Moonshot. | Funding | Round led by National AI Industry Investment Fund | $3.5B | $35B | bloomberg.com |
| May 7, 2026 | Moonshot AI raises $2B at $20B valuation in Meituan-led round About $2B at a $20B valuation in a round led by Meituan's Long-Z Investments, with Tsinghua Capital, China Mobile and CPE Yuanfeng (Bloomberg, TechCrunch, SCMP). | Funding | Round led by Meituan (Long-Z) | $2B | $20B | bloomberg.com |
| Feb 2026 | Moonshot AI raises $700M at $10B valuation Raised more than $700M at about a $10B valuation from Alibaba, Tencent, 5Y Capital and Andon, plus others, making Moonshot a decacorn (Bloomberg, SCMP, Seoul Economic Daily). | Funding | Round led by Alibaba, Tencent, 5Y Capital & Andon | $700M | $10B | en.sedaily.com |
| Dec 31, 2025 | Moonshot AI raises $500M Series C led by IDG at $4.3B Confirmed by founder Yang Zhilin in an internal letter (Dec 31, 2025): oversubscribed Series C, cash reserves above ¥10B. IDG invested $150M; valuation $4.3B per LatePost/SCMP/Caixin. | Funding | Series C | $500M | $4.3B | caixinglobal.com |
| Feb 2024 | Moonshot AI raises over $1B led by Alibaba Over $1B Series B led by Alibaba and HongShan, with Meituan and Xiaohongshu also investing (TechCrunch citing Chinese media; Bloomberg). Post-money valuation about $2.5B. | Funding | Series B | $1B | $2.5B | techcrunch.com |
Sources: press reports. * not independently verified.
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Kimi K3 Tops New Geological Reasoning Benchmark
Moonshot AI’s Kimi K3 leads a new geoscience benchmark, showing specialized AI potential for mining and energy. Discover…
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Kimi K2.5: Open-Source Multimodal Model for Visual Coding
Moonshot AI releases Kimi K2.5, an open-weights model for visual coding, tool use, and agent-swarm orchestration. Discover infrastructure…
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Kimi K3: A 2.8T Open MoE With 2.5× Better Scaling Than K2
Moonshot’s Kimi K3 activates 104B of 2.8T params, adds native vision and 1M context. KDA, Attention Residuals and…
More stories
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Even Top Agents Finish Only ~30% of Real Startup Product Workflows
StartupBench, built from market-validated AI products: Kimi-K3 and GPT-5.6-sol average ~73.6% partial scores, but no model completes one-third of tasks under the ≥90 success bar.
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Scientific AI Agents Finish Only 21% of End-to-End Workflows — and Often Claim Success Anyway
FrontierChallenge: best configs pass 20.6% of 97 released science workflows. In electrochemistry, Avg. Score hits 94.9 with 0% full completion; 75.5% of failed Claude Code runs…
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Top GUI Agents Clear Only 31% of Professional Long-Horizon Workflows
Workflow-GYM: Gemini-3.1-pro reaches 30.67% pass on domain-specific software workflows of 30–110 steps; most models’ pass@3 stays under 30%.
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Most Multi-Agent Setups Violate Safety Rules Mid-Run, Even When the Answer Looks Fine
HarnessAudit-Bench tests 210 tasks across 10 harness configs: more than half of multi-agent setups show trajectory violations that final-answer grading misses.
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Hidden AI Reasoning Can Be Decrypted by Cheaper Models, Researchers Show
Encrypted chain-of-thought blocks from Anthropic, OpenAI and Google APIs are interchangeable across models. Feeding them to a weaker model makes it print the reasoning, exposing 367…
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Moonshot AI Open-Sources MoonEP for MoE Training
Moonshot AI releases MoonEP, an MIT-licensed expert parallelism library that reduces network bottlenecks in MoE model training. Optimize GPU clusters and cut costs. Explore the guide.
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Moonshot AI Kimi K3: Million-Token Context and Open Weights
Moonshot AI’s Kimi K3 delivers 1M-token context and open weights at aggressive pricing. Discover how it disrupts RAG pipelines and closed APIs for enterprise deployments. Learn…
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Kimi K3 vs DeepSeek: Chinese AI Models Shift Market
Moonshot AI’s Kimi K3 challenges DeepSeek with superior context and efficiency. Explore the impact on TCO, enterprise MLOps, and global AI pricing. Discover how Chinese models…
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Kimi K3: Moonshot AI Builds Frontier LLM With Limited Hardware
Moonshot AI’s Kimi K3 delivers strong reasoning, coding, and ultra-long context under hardware limits. It gives Chinese enterprises a compliant high-performance option. Explore the analysis.
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Kimi K3 and the Commoditization of Intelligence
Kimi K3’s low-cost inference is compressing margins and triggering $392B valuation drops. Learn how efficiency is driving AI model commoditization and what it means for labs,…
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Kimi K3: Moonshot AI Model Shakes Semiconductor Markets
Moonshot AI’s Kimi K3 matches top Western models despite export controls. See why chip stocks dipped and what it means for future hardware needs. Explore the…
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Kimi AI: Moonshot’s Long-Context LLM Efficiency Edge
Moonshot AI’s Kimi pushes 2M+ token context windows with compute-efficient performance on restricted hardware. See how it challenges Gemini and Claude while reshaping enterprise LLM economics.…
Models & specs
Moonshot AI · context window, max output, API price, modalities, knowledge cutoff, license
| Model | Released | Context | Max output | Price in / out (per 1M) | Modalities | Knowledge cutoff | License / access | Spec source |
|---|---|---|---|---|---|---|---|---|
| Kimi K3 | Jul 16, 2026 | 1M | — | $3 / $15 cached $0.3 Kimi API list price (platform.kimi.ai/docs/pricing/chat, accessed 2026-10-22). Cache write $3.00 (5-min TTL) / $6.00 (1-h TTL); official context 1,048,576 tokens. | Text, image in → text out | — | Open weights (released 27 Jul 2026) 2.8T total (MoE) | kimi.ai |
| Kimi K2.7 Code | Jun 2026 | 262K | — | $0.95 / $4 cached $0.19 Kimi API list price, accessed 2026-10-22. Highspeed variant: $1.90 in / $8.00 out ($0.38 cached). | — | — | — | platform.kimi.ai |
| Kimi K2.6 | Apr 2026 | 262K | — | $0.95 / $4 cached $0.16 Kimi API list price, accessed 2026-10-22. | — | — | — | platform.kimi.ai |
| Kimi K2.5 | Jan 2026 | 262K | — | $0.5 / $2.5 cached $0.15 OpenRouter listed price (third-party hosts), accessed 2026-10-22; Moonshot retired kimi-k2.5 on its own API on 31 Aug 2026. | — | — | — | openrouter.ai |
| Kimi K2 Thinking | Nov 6, 2025 | 256K | — | $0.6 / $2.5 cached $0.15 OpenRouter listed price, accessed 2026-10-22 (matches Moonshot launch pricing). Retired on Moonshot's own API 25 May 2026. | Text in → text out | — | Open weights, modified MIT 1T total / 32B active (MoE) | moonshotai.github.io |
| Kimi K2 Kimi-K2-Base, Kimi-K2-Instruct | Jul 11, 2025 | 128K | — | $0.6 / $2.5 cached $0.15 Moonshot launch list price, July 2025 (CNBC). Moonshot retired the kimi-k2 series on its API on 25 May 2026; OpenRouter hosts list ~$0.57/$2.30. | Text in → text out | — | Open weights, modified MIT 1T total / 32B active (MoE) | moonshotai.github.io |
| Kimi k1.5 | Jan 20, 2025 | — | — | — | — | — | — | github.com |
Sources: company announcements & release notes. Prices = standard API list price in USD per 1M tokens at time of release or current docs; batch is typically 50% off.