Moonshot AI eyes $2B annualized revenue by end of 2026

Moonshot AI, one of China's prominent AI labs, is targeting $2 billion in annualized revenue by the end of 2026, double its August revenue run rate, according to a Bloomberg report on September 11. The ambitious goal reflects the success of the company's open-weight K3 model, released in the summer of 2026.

OpenRouter data shows K3 models generating as many as 300 billion tokens per day, though usage has dipped slightly in recent months. Moonshot's projected revenue remains far below that of OpenAI and Anthropic, which recent reports put at $40 billion and $65 billion, respectively. Because Moonshot's model weights are freely available, its margins are much lower than those of closed-weight rivals. The rising projections suggest there is still revenue potential in open-weight AI models.

Earlier this week, Anthropic accused Moonshot of a long-running model distillation campaign, alleging that nearly 300,000 requests from Kimi were routed directly to Claude Opus and more than 23 million responses were collected for training.